Terrorism Insurance Act
Latest action · Nov 29, 2001 Read twice and referred to the Committee on Commerce, Science, and Transportation.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedNov 29, 2001
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Directs the Secretary to provide financial assistance to commercial insurers to cover insured losses resulting from acts of terrorism, conditioned upon payment of a terrorism loss repayment surcharge collected by such insurers and remitted to the Secretary.
Permits extension of this Act to self-insurance arrangements by municipalities and other public entities.
Expresses the sense of Congress that: (1) NAIC, in consultation with the Secretary, should develop appropriate definitions for acts of terrorism and appropriate standards for making determinations regarding such acts; (2) each State should adopt those definitions and standards for purposes of regulating insurance coverage; and (3) after consultation with the NAIC, the Secretary should adopt definitions for acts of terrorism and standards for determinations appropriate for this Act.
Expresses the sense of Congress that the States should require separate disclosure by insurance companies of the price of any terrorism coverage, including the costs of any terrorism related assessments or surcharges under this Act.
Cosponsors
Members who signed on, in the order they did.
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Commerce, Science, and Transportation Committee | Referred Nov 29, 2001 |
Actions 3
Everything that happened, newest first.
- Nov 29, 2001Introduced in Senate
- Nov 29, 2001Sponsor introductory remarks on measure. (CR S12166-12167)
- Nov 29, 2001Read twice and referred to the Committee on Commerce, Science, and Transportation.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S12166 | John McCain R-AZ | Nov 29, 2001 |
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to ensure the continued financial capacity of insurers to provide coverage for risks from terrorism.
- Short Titles as Introduced
- Terrorism Insurance Act
- Popular Titles
- Insurers Risks From Terrorism bill
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Building leases
- Business insurance
- Casualty insurance
- Collection of accounts
- Commerce
- Crime and Law Enforcement
- EBB Terrorism
- Federal preemption
- Finance and Financial Sector
- Government and business
- Government Operations and Politics
- Government paperwork
- Housing and Community Development
- Insurance companies
- Insurance law
- Insurance premiums
- Insurance rates
- International Affairs
- Law
- Municipal politics and government
- Property insurance
- Punitive damages
- Reinsurance
- Rent
- Rural conditions
- Self-insurance
- Small business
- State laws
- Subsidies
- Terrorism
- Urban affairs
- Urban areas
- Victims of terrorism
Text 1
Each version as it was printed, newest first.
- Nov 29, 2001Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
