terrorism endorsement
A provision attached to an insurance policy that restricts, excludes, or
otherwise explains coverage for loss due to terrorist acts. The passage of the
Terrorism Risk Insurance Act of 2002 (TRIA) voided all terrorism exclusion endorsements
then in force on commercial property and casualty policies, to the extent that
such exclusions eliminated coverage for certified acts of terrorism as covered
by the federal program. It also led to the creation of many standard terrorism
endorsements that provide for a wide range of terrorism coverage options: from
no terrorism coverage at all (permissible only when the insured rejects or fails
to pay for TRIA terrorism coverage), to full coverage for both international
and domestic terrorism, subject to the $100 billion program-year cap established
in the Act. See also Terrorism Risk Insurance Act of 2002 (TRIA).
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CLI VI.I;
CPI VI.P;
CRM VI.K