What are the endorsements that I just received?
Terrorism Risk Insurance Program Reauthorization Act Disclosure Endorsement This endorsement is being issued to all new and renewing policies effective September 1, 2008. The purpose of the endorsement is to notify all workers’ compensation policyholders of the Terrorism Risk Insurance Act of 2002 as amended and extended by the Terrorism Risk Insurance Program Reauthorization Act of 2007, signed into law on December 26, 2007. It explains how an insurance company like SAIF Corporation would be protected by the federal reinsurance program created by the 2002 Terrorism Risk Insurance Act and updated through the Program Reauthorization Act of 2007. The reinsurance created by these Acts is triggered by defined acts of foreign and domestic terrorism. Policyholder coverage is not impacted by this endorsement. The rate for this exposure is $0.01 per $100 of payroll. This rate applies to both voluntary market customers and assigned risk market customers, and is a reduction from $0.02 and $0.03
