Terrorism Coverage Unclear For Captives
Recent passage of the Terrorism Risk Insurance Act has left those in the captive insurance industry scratching their heads. Whether captives will be able to "opt in or opt out" of terrorism coverage and their ultimate exposure regardless of whether they write the risk is still to be determined, one association representative reported.
"Right now at VCIA were just trying to get a feel from members as to how they feel about participating or being required to participate," said Jon Harkavy, chairman of the legislative committee for the Vermont Captive Insurance Association.
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