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Terrorism Risk Insurance Program Reauthorization Act of 2007 TRIPRA

Term · Insurance and risk management · MLC-T-INS-003309

A U.S. federal law that extended the Terrorism Risk Insurance Act program for seven years, through December 31, 2014. Its main change was to remove the requirement that a certified act be committed on behalf of a foreign person or interest, so domestic terrorism could qualify, while the program trigger stayed at $100 million in insured losses. It also kept the insurer deductible at 20 percent of direct earned premium.

Table 1. Record
IdentifierMLC-T-INS-003309
FieldInsurance and risk management
SubjectEmployment Practices Liability
Record as JSON 
{
  "id": "MLC-T-INS-003309",
  "term": "Terrorism Risk Insurance Program Reauthorization Act of 2007 TRIPRA",
  "field": "Insurance and risk management",
  "definition": "A U.S. federal law that extended the Terrorism Risk Insurance Act program for seven years, through December 31, 2014. Its main change was to remove the requirement that a certified act be committed on behalf of a foreign person or interest, so domestic terrorism could qualify, while the program trigger stayed at $100 million in insured losses. It also kept the insurer deductible at 20 percent of direct earned premium.",
  "subject": "Employment Practices Liability",
  "url": "https://mlchart.com/terminology/insurance/terrorism-risk-insurance-program-reauthorization-act-of-2007-tripra/"
}

Record 3,399 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.