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Terrorism Risk Insurance Program Extended Through 2007  


Author:  Staff Editors.


Source: Volume 19, Number 04, March/April 2006 , pp.53-58(6)




Journal of Taxation and Regulation of Financial Institutions

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Abstract: 

The Terrorism Risk InsuranceExtension Act of 2005 (“Extension Act”) extends the federal safety net for insurers for two years, but expands the private sector role and reduces the federal share of compensation for insured losses under the program. The Act was scheduled to expire on December 31, 2005. Program Year 4 is now 2006, and Program Year 5 is 2007. Interim guidance regarding the Extension Act was issued by Treasury on December 29, 2005.

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