What it does
CG 21 84 excludes "any injury or damage" arising out of a certified act of terrorism only when the terrorism involves nuclear materials, radiation or radioactive contamination, or the dispersal or release of pathogenic or poisonous biological or chemical materials. Other certified terrorism remains covered subject to the TRIA cap.
Who needs it
All commercial accounts. Larger urban, hospitality, venue, healthcare and infrastructure risks pay the most attention to terrorism terms.
Key provisions and limits
- Applies to the same group of GL coverage parts as CG 21 73.
- Not available in every state.
- A "certified act of terrorism" is an act certified by the Secretary of the Treasury under the federal Terrorism Risk Insurance Act; the criteria in the ISO forms include insured losses over $5 million in the aggregate and a violent act committed to coerce the U.S. civilian population or influence U.S. government policy.
Quoting and selling notes
- Under TRIA, insurers must offer certified terrorism coverage; the insured can accept or reject it. Keep the signed offer and rejection forms (IL series) with the file.
- Common for accounts where carriers will cover conventional terrorism but not NBCR events.
