Boston Marathon Bombing Attacks Have Not Been Yet Determined as ’Act of Terrorism’

The Boston Marathon bombing attacks have not been certified as an “act of terrorism” by the US Treasury, an important point holding up some insurance payments.

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.