Treasury Clarifies Farm, Liability, Umbrella Issues Under Terrorism Reinsurance Program

Thursday, January 19th, 2006 Catastrophe Liability Property

Insurers that write monoline farm policies and incidental professional liability coverage may face additional work to clarify coverage for their insureds under the federal terrorism reinsurance program. Farm insurance whose premium is reported under "farm multi-peril" on insurer annual statements is no longer covered under the revised federal program. However, Treasury officials said that if premium for a farm policy is reported under a line still covered by TRIP, such as "fire" and "general liability," that policy would still be covered under the program.

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http://www.insurancejournal.com/news/national/2006/01/18/64303.htm

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