Insurance Companies Preparing for Riots?

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Cloudfire's picture
Cloudfire
Status: Diamond Member (Offline)
Joined: Sep 29 2008
Posts: 1813
Insurance Companies Preparing for Riots?

 

I just got a "Notice to Policyholders" for our business insurance.  Here's an excerpt:

Change in the Definition of Certified Acts of Terrorism and Scope of the Exclusion of Other Acts of Terrorism

Under the federal Terrorism Risk Insurance Program Reauthorization Act of 2007. the definition of "certified acts of terrorism" no longer requires that the act of terrorism be committed by or on behalf of a foreign interest.  Therefore, the "certified acts of terrorism" exclusion is no longer limited to an act of terrorism committed by or on behalf of a foreign interest.  The exclusion applies to any terrorist act when the act is determined by the federal government to be a "certified act of terrorism" under the terms of the federal Terrorism Risk Insurance Program, including for example an act committed against the United States government by a United States citizen. 

It seems that there's some anticipation of violence against the US government by its own citizens . . significant enough anticipation that insurance companies are proactively protecting themselves against claims.

Anybody else getting these kinds of notices?  Does anyone know what the implications of the Terrorsm Risk Insurance Program are?

 

investorzzo's picture
investorzzo
Status: Diamond Member (Offline)
Joined: Nov 7 2008
Posts: 1182
Re: Insurance Companies Preparing for Riots?

Shouldn't be any surprise. The funny thing is asking the government to define the act of terrorism. Especially when it creates false flags.......

lundsta's picture
lundsta
Status: Bronze Member (Offline)
Joined: Oct 13 2008
Posts: 89
Re: Insurance Companies Preparing for Riots?

I am thinking another reason for the notice could be because people in anger are trashing their homes, burning their cars and commiting suicide to recieve life insurance funds. People are trying to get extra funds in any way possible.

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