The validity of the «Terrorism Risk Insurance Act» is extended

The american government has extended by two years the validity of « the Terrorism Risk Insurance Act », an apparatus set up following the September 11, 2001 attacks, and which provides for the government's sponsorship of terrorist acts-related losses.

In its new version, the device introduces stiffer conditions by raising the deductibles from the current 5 million USD to 50 million USD in 2006 and to 100 million USD in 2007.