other · Treasury · Rule · Published 2003-07-11 · Effective 2003-07-11 · 68 FR 41250
Document
Document number
03-17585
Federal Register citation
68 FR 41250
CFR reference
31 CFR 50
Type
Rule
Action
Final rule.
Category
other
Sub-agency
Treasury
Publication date
2003-07-11
Effective date
2003-07-11
Abstract
The Department of the Treasury (Treasury) is issuing this rule in final form as part of its implementation of Title I of the Terrorism Risk Insurance Act of 2002 (Act). That Act established a temporary Terrorism Risk Insurance Program (Program) under which the Federal Government will share the risk of insured loss from certified acts of terrorism with commercial property and casualty insurers until the Program sunsets on December 31, 2005. Treasury published an interim final rule with a request for comment on February 28, 2003. That rule set forth the purpose and scope of the Program and key definitions that Treasury will use in implementing the Program. It was the first in a series of regulations that Treasury will be issuing to implement the Program. This final rule generally adopts the interim final rule, but makes revisions in the definition of "affiliate" and certain other changes described in the preamble.