EagleRockCafe
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U.S. Treasury: Boston Marathon Bombings Were Not An “Act Of Terrorism”…
If two jihadists blowing up the Boston Marathon isn’t terrorism, then what is?
Quote: The Boston Marathon bombing attacks were not an “act of terrorism,” the US Treasury has ruled, which conveniently means terrorism insurance claims need not be paid out in full.
In the wake of the 9/11 attacks, Congress passed the Terrorism Risk Insurance Act, which created federally-backed insurance in cases of damage due to terrorism. Some Boston businesses were among those that bought the insurance.
Those purchases became relevant after the Boston Marathon bombings on April 15, 2013. Of the 160 companies located near the marathon’s finish line that submitted insurance claims, just 14 percent had purchased terrorism insurance, Insurance Journal reported.
http://www.boston.com/news/local/massach...story.html
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09-11-2014 02:16 PM |
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smn1256
I miss Tripster
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RE: U.S. Treasury: Boston Marathon Bombings Were Not An “Act Of Terrorism”…
The Treasury learned a lot from Obamacare.
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09-11-2014 02:25 PM |
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SumOfAllFears
Grim Reaper of Misguided Liberal Souls
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RE: U.S. Treasury: Boston Marathon Bombings Were Not An “Act Of Terrorism”…
Headline updated
US Treasury Has Not Ruled on If Boston Marathon Bombings Were ‘Act of Terrorism’
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09-11-2014 02:42 PM |
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jh
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RE: U.S. Treasury: Boston Marathon Bombings Were Not An “Act Of Terrorism”…
Not sure I see any reason for outrage. According to the article, under the Terrorism Risk Insurance Act terrorism has a statutory definition that the Boston Marathon attack does not appear to satisfy.
Quote:Part of the reason for that ruling has to do with the amount of monetary damage done by the bombing. Under the federal law’s wording, a destructive act cannot be certified as terrorism if insurance losses total less than $5 million in aggregate. As of March, the state’s largest property and casualty insurers had issued $1.9 million in bomb-related insurance claims, The Boston Globe reported, well below the required $5 million amount. In addition, compensation is not paid out unless the aggregate losses total more than $100 million, according to the statute.
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09-11-2014 02:56 PM |
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