HR 4721 · 110th Congress · Finance and Financial Sector

Terrorism Risk Insurance Improvement Act of 2007

Introduced 2007-12-17· Sponsored by Rep. Ackerman, Gary L. [D-NY-5]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.(2008-03-28)

Plain Language Summary

[AI summary unavailable — showing source text] Terrorism Risk Insurance Improvement Act of 2007 - Amends the Terrorism Risk Insurance Act of 2002 to revise the definition of "insurer deductible" with respect to a situation where aggregate industry insured losses resulting from a certified act of terrorism exceed $1 billion for an insurer that sustains any of such losses. Sets forth a calculation for the value of such an insurer's direct earned premiums over the calendar year immediately preceding the program year.…

Summarized by Claude AI · Non-partisan · For informational purposes only