The American Association of Insurance Services said that changesmade to the Terrorism Risk Insurance Act will not require anyimmediate adjustments to existing endorsements and other materialsit provides.
Congress passed legislation extending the program for two years,with some changes, shortly before lawmakers left for the holidays,and President Bush signed the bill on Dec. 22.
The most significant change for AAIS members, the group said,was the elimination of farm and crime coverage from the federalTerrorism Risk Insurance Program, although the group noted that itsaffiliates in those areas already have access to "post-TRIP"terrorism endorsements filed and approved in most states forpolicies taking effect on or after Jan. 1.
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