S 2621
110th Congress
Senate
Finance and Financial Sector
Business insurance
Casualty insurance
Commerce
Crime and Law Enforcement
Insurance companies
Insurance premiums
Property insurance
Terrorism
Terrorism Risk Insurance Improvement Act of 2008
Introduced: February 11, 2008
Introduced by:
Schumer, Charles E.
Democratic
· New York
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 11, 2008
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 11, 2008
Introduced in Senate
Plain-English summary
Terrorism Risk Insurance Improvement Act of 2008 - 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.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1