Finance, Taxes, Insurance
Terrorism risk insurance now available
Barely into the new year, aircraft owners and operators are opening letters from their insurance companies offering additional coverage for acts of terrori

Barely into the new year, aircraft owners and operators are opening letters from their insurance companies offering additional coverage for acts of terrorism.

These offerings should not be confused with the war-risk and allied perils insurance currently carried by many insured. The new coverage is mandated by the Terrorism Risk Insurance Act (TRIA) of 2002, signed into law by President Bush in November and intended to spur business investment. Under the TRIA, the government will provide a short-term backstop program for the insurance industry with regard to claims resulting from acts of terrorism.