The Texas Department of Insurance has approved a filing by the National Council on Compensation Insurance, warning policyholders in case a federal terrorism-backstop law is not renewed in 2020.
The NCCI made the changes to its forms manuals last summer, notifying policyholders that their premiums could spike if the Terrorism Risk Insurance Program Reauthorization Act of 2015 (known as TRIPRA) is not renewed by Congress.
The act, which is due to expire on Dec. 31, 2020, provides federal reinsurance in terrorist attacks. Supporters say it has brought stability and predictability to t...
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