Cyber Coverage and TRIA

 March 20, 2017

 In a recent ISO circular, additional information was provided in reference to the December 2016 Guidance Concerning Stand-Alone Cyber Liability Insurance Policies Under the Terrorism Risk Insurance Program (TRIP). The Terrorism Risk Insurance Act (TRIA) was developed in 2002 after the September 11, 2001, terrorist attacks as a way to provide a coverage backstop for terrorist acts until the industry develops a way to handle such losses. TRIA requires carriers to absorb a certain amount of property and casualty losses before being able to receive government funds for terrorist acts.

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