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PA Bulletin, Doc. No. 03-116


Federal Terrorism Risk Insurance Act of 2002; Notice 2003-02

[33 Pa.B. 456]

   The Insurance Department (Department) is publishing notice that Congress recently enacted and the President has signed into law the Terrorism Risk Insurance Act of 2002 (H.R.3210) (act). This Federal law provides a Federal backstop for defined acts of terrorism and imposes certain obligations on insurers.

   The Department has adopted a bulletin with regard to the act. The intent of this bulletin is to advise insurers of certain provisions of the act that may require them to submit a filing in this Commonwealth and to inform them regarding a voluntary procedure for insurers to use to expedite the filing and timely review of the disclosure notices, policy language and the applicable rates that are discussed in the act.

   The bulletin has been posted in its entirety on the Department's website, Specific questions relating to information provided in the bulletin may be directed to Pamela Seymore, Office of Rate and Policy Regulation, 1345 Strawberry Square,Harrisburg, PA 17120, (717) 787-4192, pseymore@state.

Insurance Commissioner

[Pa.B. Doc. No. 03-116. Filed for public inspection January 17, 2003, 9:00 a.m.]

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