NYCIRB Issues Notice of Pending Terrorism Risk Change

The New York Compensation Insurance Rating Board has issued a notification of pending law change in advance of the Dec. 31, 2014, expiration of the federal Terrorism Risk Insurance Program Reauthorization Act of 2007.NYCIRB said in a regulatory notice that, if Congress allows TRIPRA to expire, a premium charge for terrorism losses may continue to apply or change from the current amount applied.NYCIRB attached a copy of a new terrorism endorsement, WC 00 01 14, which will be included in an updated version of the New York Workers Compensation & Employers Liability Manual.The announcement is ...