Terrorism Risk Insurance Act of 2002

[AI summary unavailable — showing source text] Terrorism Risk Insurance Act of 2002 - Establishes in the Department of the Treasury the Terrorism Insured Loss Shared Compensation Program, administered by the Secretary of the Treasury, who shall have general Program authorities. Prescribes guidelines for: (1) mandatory insurance company participation in the Program; and (2) mandatory availability of property and casualty insurance. Sets a Program termination date. Expresses the sense of the Congress that the Secretary should make any determination to extend such Program in sufficient time to enable participating insurance companies to include coverage for acts of terrorism in their policies for 2003. Expresses the sense of the Congress that the insurance industry should build capacity and aggregate risk to provide affordable property and casualty insurance coverage for terrorism risk. Establishes a Federal cause of action for property damage, personal injury, or death arising out of or resulting from an act of terrorism, which shall be the exclusive cause of action and remedy for claims for such property damage, personal injury, or death (except for claims against terrorists or aiders and abettors, including governments and othe…