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WORKERS COMPENSATION AND EMPLOYERS LIABILITY INSURANCE POLICY WC 00 04 22 C
<br /> ( Ed . 01 -21 )
<br /> TERRORISM RISK INSURANCE PROGRAM REAUTHORIZATION ACT DISCLOSURE ENDORSEMENT
<br /> This endorsement addresses the requirements of the Terrorism Risk Insurance Act of 2002 as amended and extended by the
<br /> Terrorism Risk Insurance Program Reauthorization Act of 2019 . It serves to notify you of certain limitations under the Act, and that
<br /> your insurance carrier is charging premium for losses that may occur in the event of an Act of Terrorism .
<br /> Your policy provides coverage for workers compensation losses caused by Acts of Terrorism , including workers compensation
<br /> benefit obligations dictated by state law. Coverage for such losses is still subject to all terms , definitions , exclusions , and
<br /> conditions in your policy, and any applicable federal and/or state laws , rules , or regulations .
<br /> Definitions
<br /> The definitions provided in this endorsement are based on and have the same meaning as the definitions in the Act. If words or
<br /> phrases not defined in this endorsement are defined in the Act, the definitions in the Act will apply.
<br /> "Act" means the Terrorism Risk Insurance Act of 2002 , which took effect on November 26 , 2002 , and any amendments thereto ,
<br /> including any amendments resulting from the Terrorism Risk Insurance Program Reauthorization Act of 2019 .
<br /> "Act Of Terrorism" means any act that is certified by the Secretary of the Treasury , in consultation with the Secretary of Homeland
<br /> Security , and the Attorney General of the United States , as meeting all of the following requirements :
<br /> a . The act is an act of terrorism .
<br /> b . The act is violent or dangerous to human life, property , or infrastructure .
<br /> The act resulted in damage within the United States , or outside of the United States in the case of the premises of United
<br /> C, States missions or certain air carriers or vessels .
<br /> The act has been committed by an individual or individuals as part of an effort to coerce the civilian population of the United
<br /> d . States or to influence the policy or affect the conduct of the United States Government by coercion .
<br /> "Insured Loss" means any loss resulting from an act of terrorism (and , except for Pennsylvania , including an act of war, in the case
<br /> of workers compensation) that is covered by primary or excess property and casualty insurance issued by an insurer if the loss
<br /> occurs in the United States or at the premises of United States missions or to certain air carriers or vessels .
<br /> " Insurer Deductible" means , for the period beginning on January 1 , 2021 , and ending on December 31 , 2027 , an amount equal to
<br /> 20% of our direct earned premiums during the immediately preceding calendar year.
<br /> Limitation of Liability
<br /> The Act limits our liability to you under this policy. If aggregate Insured Losses exceed $ 100 , 000 , 000 , 000 in a calendar year and if
<br /> we have met our Insurer Deductible , we are not liable for the payment of any portion of the amount of Insured Losses that exceeds
<br /> $ 100 , 000 , 000 , 000 ; and for aggregate Insured Losses up to $ 100 , 000 , 000 , 000 , we will pay only a pro rata share of such Insured
<br /> Losses as determined by the Secretary of the Treasury .
<br /> Policyholder Disclosure Notice
<br /> 1 . Insured Losses would be partially reimbursed by the United States Government. If the aggregate industry Insured Losses
<br /> occurring in any calendar year exceed $200 , 000 , 000 , the United States Government would pay 80% of our Insured Losses
<br /> that exceed our Insurer Deductible ,
<br /> 2 . Notwithstanding item 1 above , the United States Government will not make any payment under the Act for any portion of
<br /> Insured Losses that exceed $ 100 , 000 , 000 , 000 .
<br /> 3 . The premium charge for the coverage your policy provides for Insured Losses is included in the amount shown in Item 4 of
<br /> the Information Page or in the Schedule below.
<br /> WC 00 04 22 C
<br /> (Ed . 01 -21 )
<br /> © Copyright 2020 National Council on Compensation Insurance, Inc . All Rights Reserved .
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