Terrorism Insurance Extension Passed

December 18, 2007

The House of Representatives approved a bill to extend the federal Terrorist Insurance Risk Insurance Act another seven years. The bill (H.R. 2761) passed by a 360-53 vote. The House initially sought a 15-year extension that significantly broadened the scope of coverage. The legislation features a threshold of $100 million for triggering federal aid, adds coverage for domestic acts of terrorism, and authorizes a study on the effect of including nuclear, biological, chemical and radiological attacks in the program. The House vote clears the bill to be sent to the President for his signature.

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North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.