Insurance Payout May Depend on Whether Boston Bombing Was 'Terrorist Act'

Whether the Boston bombings are deemed a "terrorist" act could have enormous financial implications for the businesses that were damaged or closed during the police investigation. At the center of the issue is a federal law passed in the shadow of the attacks of 9/11. In Nov. 2002, Congress enacted the Terrorism Risk Insurance Act, which provided insurance coverage for terrorist acts. That means if a special insurance rider was not purchased, and the act is deemed terrorism, the claim will be...Full Story
Commenting on this article is closed.