Insurance Update: House Passes TRIPRA Extension

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After the Terrorist Acts occurred on the World Trade Center back in 2001, the Government passed the Terrorism Risk Insurance Act (TRIA) of 2002. This meant that if the Government deemed an event as a certified act of terrorism, then the Government would reimburse the insurance companies for the losses they paid out for that specific event.

However, if there is an event and the Government does not deem it as a certified act of terrorism, then insurance companies do not get reimbursed for the losses. This could ultimately affect the insured, as they could be at a loss as well since there was no coverage.   

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Topics: Insurance Coverage, TRIPRA

What Type of Coverage Does Employer's Liability Insurance (ELI) Provide?

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Employers Liability Insurance (ELI) is coverage provided by the workers’ compensation policy for the insured (employer) for liability to employees for work-related bodily injury. This includes death, by accident or disease, other than liability imposed on the insured by a workers’ compensation law. These are the 4 common types of employers liability claims.

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Topics: Insurance Coverage, Employer's Liability Insurance

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