Agmt03 Browning Ferris BFI - Laserfiche WebLink

Browse Search

POLICYHOLDER DISCLOSURE STATEMENT L2q'DER TERROPdSM RISK INSURANCE ACT OF 2002 In accordance with the Terror/sm Risk [nsur',mce Act of 2002 (the "Act"), we are providing this disclosure nodce for bonds for wh/ch a member company of the .4.rnefican International Companies is the sure~. "Terror/sm" is defined m ',he Act as an act certified by the Secretary of the Treasury (i) to be an act of terrorism, (ii) to be a violent act or an act that is dangerous to (A) human life; CB) property or (C) infras~cture, (iii) to have resulted m damage within the umted States, or outside of the United States in case of an air carrier or vessel or the premises of a U.S. mission and (iv) to have been committed by an individual or individuals acting on behalf of any foreign person or foreign interest, as part of an effort to coerce the civilian population of the United States or to influence the policy or affect the conduct of the United States Government by coercion. You should read the Act for a complete description of its coverage. The Secretary's decision to certify or not to certify an event as an Act of Terrorism and thus covered by this law is final and not subject to review. There is a $100 billion dollar annual cap on all losses resulting from Acts of Terrorisrn above which no coverage will be provided under this policy and under the Act unless Congess makes some other determination. For your information, coverage provided by this policy for losses caused by an Act of Terrorism may be partially reimbursed by thc United States under a formula established by the Act. Under this formula the United States pays 90% of terrorism losses covered by th.is law exce~ing a statutorily established deductible that must be met by thc insurer, and which deductible is based on a percentage of the insurer's direct earned premim'm for the year preceeding thc Act of Terrorism. Acts of Terrorism are not excluded from any surety bonds issued on your behalf and your charge for Terrorisra coverage is 0% o£ what would have been your final premium. INFOI~CF-~/ITH ,~_XCLUSION