The Massachusetts Department of Insurance says it has a data call out to the insurance industry in order to draft a report on the April 15 bombings at the Boston Marathon.
MDI spokeswoman Jayda Leder-Luis says the reports will describe the types of claims filed following the incident, as well as the total dollar amount of claims and the duration of time claims remained were open.
Work continues to be done on businesses close to where two bombs went off on Boylston Street in Boston at about 2:50 p.m. on April 15. About a week ago workers could be seen replacing windows and repairing the facade of buildings. The windows above the Marathon Place store, located near the finish line, remained boarded.
At the site of the second bomb, the Forum restuarant remained closed, with plans to reopen this summer.
Leder-Kuis says there is no timetable for the release of the report, which will include data from P&C and health insurers.
To date, not one complaint has been lodged about insurers' handling of claims, adds Leder-Luis.
She says the insurance department has received numerous inquiries related to whether the bombings will be covered by terrorism insurance policies. The bombings have yet to be classified an official "act of terror" by the Secretary of State, the Treasury Secretary and the U.S. Attorney General, and the MDI "has not received word if it will or won't be," Leder-Luis says.
According to current criteria of the current Terrorism Risk Insurance Act losses from the act of terrorism must exceed $5 million to be certified.
The federal government's role in sharing the insured losses occurs only if the aggregate insured losses from certified acts of terrorism exceed $100 million. Each insurer must meet a deductible before receiving federal coverage.
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