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NORTH CAROLINA
DWELLING PROPERTIES AND PERSONAL & PREMISES LIABILITY (GL-600) PROGRAMS
Status report on compliance with the Terrorism Risk Insurance Act of 2002 (the Act) and related state regulatory policies

Regarding "certified" terrorism losses
For an act of terrorism to be certified by the U.S. Secretary of the Treasury (and thus trigger coverage under the federal terrorism reinsurance program), it must cause more than $5 million in losses and be inspired, directed, and/or carried out on behalf of a foreign person or interest.

The applicability of AAIS's Dwelling Properties and Personal/Premises Liability terrorism endorsements will depend on whether rental properties insured by such policies are deemed to be commercial insurance for purposes of the federal program. For an explanation, see Bulletin 03-0142.

State Name: North Carolina Posting date: 3/31/03, 4/11/03 (additional info.)
 

Ed date/

Rev #

Program

AAIS effective date

AAIS

filing #

Insurance dept. filing #, if any
End't

03 03

 DP

No program on file

    
    PPL

4/1/03

AAIS-2003-11PPLF

  PC060989
Rules

1.0

 DP

No program on file

    
    PPL

4/1/03

AAIS-2003-11PPLR

   PC060988
Special company action:
Comments:


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