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Terrorism & insurance the president signed the terrorism risk insurance act legislation All 50 States Insurance on november 26, 2002, whereby private insurers and the federal government share alabama department of insurance the risk of All 50 States Insurance future losses from terrorism for a.

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Three- year period, with the president's signature, all state exclusions for All 50 States Insurance terrorism are rescinded, insurers, over the of alabama insurance next 90 days, must notify existing commercial policyholders of the existence All 50 States Insurance of the federal backstop, offer comparable terrorism coverage and specify the cost of that coverage, alabama dept of insurance policyholders have the option to accept or decline the All 50 States Insurance coverage, or negotiate other.

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Terms, these provisions apply to new policies written after enactment.

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