Important Notice on TRIA

On Dec. 26, 2007, President Bush signed the Terrorism Risk Insurance Program Reauthorization Act, which extends the Terrorism Risk Insurance Act through Dec. 31, 2014.

An outgrowth of the Sept. 11 attacks, the Act requires insurers to cover policyholders in losses from terrorist acts, earthquakes and catastrophic industrial accidents.

On Jan1, 2008, the National Council on Compensation Insurance filed for separate premium charges to provide funding for this program. This change will replace the previous TRIA premium, and will result in a small decrease in what you pay.

You will see two different charges, one based on the domestic terrorism rate, now .003, and one based on the foreign terrorism rates, now .02.

The premium is calculated by dividing total payroll by $100, multiplying by the appropriate rate, then rounding to the nearest dollar. The premium is not subject to discounts.

If you have any questions, please contact SCF Arizona at 602-631-2600.