We have received several inquiries as to whether the Nashville bombing will lead to a Terrorism Risk Insurance Act (TRIA) claim. The answer is "no" right now and "do not hold your breath for any other answer in the future."
For a reader's summary of TRIA, after billions of dollars in losses from the attacks of the September 11, 2001, attacks, Congress approved an insurance program in 2002 that allowed the insurance industry and the federal government to share losses caused by a major terrorist attack. The operative word is "major."
The law, which has been amended a number of times, requires in part:
- An act of terrorism as part of an attempt to influence US policy.
- The triggering event must be a loss of $ 200 million – this has been significantly increased over the years.
It should be noted that the Boston Marathon Bombing 2013 attack was never declared a terrorist act. The incident was reportedly in retaliation for the Afghan war, killing three people, injuring 264 people, taking place during a local holiday with thousands of people present and millions watching television. Like Nashville, a crime scene was established and airspace was restricted. President Obama spoke to the country and flags were ordered with half masts.
So if Boston was not determined to be a terrorist act under the TRIA, I also do not expect the Nashville tragedy to be named one. Nevertheless, claims and losses caused by explosions, vandalism and any losses caused by civil authorities should be made. travel inside. It is also a chance to relax, unwind. That's when I turn on my sleep mode.