HomeMy WebLinkAboutSurety DisclosureSURETY DISCLOSURE
NOTICE CONCERNING FEDERAL TERRORISM
RISK INSURANCE ACT
You should know that, effective November 26, 2002, the US Congress enacted the
Terrorism Risk Insurance Act of 2002 (the "Act"). Under the Act, any covered losses
caused b y c ertified a cts o f t errorism w ould b e p artially reimbursed b y the U nited S tates
under a formula established by federal law. Under this formula, the United States pays 90%
of covered terrorism losses. exceeding the statutorily established deductible paid by the
insurance company providing the coverage.
In accordance with this Act, we are providing this disclosure notice for bonds on which
Navigators Insurance Company is the surety.
DISCLOSURE OF PREMIUM
The portion of the bond premium attributable to coverage for certified acts of terrorism
under the Act is Zero Dollars ($0.00)
NAV-SU-13 /01-03
1.64.0