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Terrorism coverage and TRIA

As you know by now, the U.S. Senate failed to pass the Terrorism Risk Insurance Program Reauthorization Act of 2014 earlier this week, which means the federal terrorism insurance backstop that’s been in place since 2002 will expire Dec. 31, 2014. We are hopeful that the new Congress will take positive action in January, but in the meantime, AEGIS will continue to provide terrorism coverage without interruption. Our reinsurance program, as well as the terrorism limits and aggregates we have in place, provide adequate protection for the mutual, and allow us to continue to provide terrorism coverage to members as we have done since the original TRIA bill was enacted.

If you have any questions about TRIA or AEGIS terrorism coverage, please contact Bill Cullen, Senior Vice President – Underwriting, by e-mail or by phone at 201.508.2781 or George Keefe, Senior Vice President – Member Relations, by e-mail or by phone at 201.508.2797.