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Contracts & Agreements_132-2017
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Contracts & Agreements_132-2017
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Last modified
2/4/2020 8:57:33 AM
Creation date
11/21/2017 9:22:25 AM
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Contracts & Agreements
Subject
Insurance Services
Details
Surplus Lines, TRIA Form, Claims Reporting, Bind Coverage.
Date
6/20/2017
Document Number
132-2017
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4 •„ <br /> ALLIANT INSURANCE SERVICES <br /> POLICYHOLDER DISCLOSURE <br /> NOTICE OF TERRORISM <br /> INSURANCE COVERAGE <br /> June 7, 2017 <br /> Named Insured City of Redlands,CA <br /> We are required to send you this notice pursuant to federal legislation concerning terrorism insurance <br /> You are hereby notified that under the Terrorism Risk Insurance Act of 2002 as amended, you have a right <br /> to purchase insurance coverage for losses resulting from acts of terrorism As definedin Section 102(1)of <br /> the Act, as amended The term `act of terrorism means any act that is certified by the Secretary of the <br /> Treasury, in consultation with the Secretary of Homeland Security and the Attorney General of the United <br /> States, to be an act of terrorism, to be a violent act or an act that is dangerous to human life, property, or <br /> infrastructure to have resulted in damage within the United States, or outside the United States in the case <br /> of certain air carrier or vessel or the premises of a United States mission, and to have been committed by <br /> an individual or individuals, as part of an effort to coerce the civilian population of the United States or to <br /> influence the policy or affect the conduct of the United States Government by coercion Any coverage you <br /> purchase for "acts of terrorism" shall expire at 12 00 midnight December 31 2020 the date on which the <br /> TRIA Program is scheduled to terminate or the expiry date of the policy whichever occurs first, and shall <br /> not cover any losses or events which arise after the earlier of these dates <br /> YOU SHOULD KNOW THAT COVERAGE PROVIDED BY THIS POLICY FOR LOSSES CAUSED BY <br /> CERTIFIED ACTS OF TERRORISM IS PARTIALLY REIMBURSED BY THE UNITED STATES UNDER A <br /> FORMULA ESTABLISHED BY FEDERAL LAW HOWEVER, YOUR POLICY MAY CONTAIN OTHER <br /> EXCLUSIONS WHICH MIGHT AFFECT YOUR COVERAGE, SUCH AS AN EXCLUSION FOR NUCLEAR <br /> EVENTS UNDER THIS FORMULA, THE UNITED STATES PAYS 85% THROUGH 2015 84% <br /> BEGINNING ON JANUARY 1 2016 83% BEGINNING ON JANUARY 1 2017, 82% BEGINNING ON <br /> JANUARY 1 2018, 81% BEGINNING ON JANUARY 1, 2019 AND 80% BEGINNING ON JANUARY 1, <br /> 2020, OF COVERED TERRORISM LOSSES EXCEEDING THE STATUTORILY ESTABLISHED <br /> DEDUCTIBLE PAID BY THE INSURER(S) PROVIDING THE COVERAGE YOU SHOULD ALSO KNOW <br /> THAT THE TERRORISM RISK INSURANCE ACT AS AMENDED CONTAINS A USD100 BILLION CAP <br /> THAT LIMITS U S GOVERNMENT REIMBURSEMENT AS WELL AS INSURERS' LIABILITY FOR <br /> LOSSES RESULTING FROM CERTIFIED ACTS OF TERRORISM WHEN THE AMOUNT OF SUCH <br /> LOSSES IN ANY ONE CALENDAR YEAR EXCEEDS USD100 BILLION IF THE AGGREGATE INSURED <br /> LOSSES FOR ALL INSURERS EXCEED USD100 BILLION, YOUR COVERAGE MAY BE REDUCED <br /> THE PREMIUM CHARGED FOR THIS COVERAGE CAN BE REQUESTED BELOW AND WILL NOT <br /> INCLUDE ANY CHARGES FOR THE PORTION OF LOSS COVERED BY THE FEDERAL GOVERNMENT <br /> UNDER THE ACT <br /> Alliant Insurance Services, Inc • 100 Pine St 11th Floor San Francisco, CA 94111 2711• <br /> PHONE(415)403-1400 FAX(415)402 0773• www alliant corn • License No OC36861 <br />
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