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SEC Instructed to Review Public Company Ties to States Identified as Sponsoring Terrorism ( March 2004 )
Public companies doing business with "terrorist-sponsoring states" may come under intensified scrutiny by the Securities and Exchange Commission due to a paragraph slipped into a conference committee report on a major appropriations bill recently passed by Congress. The relevant paragraph directs the SEC to establish an Office of Global Security Risk within the Division of Corporation Finance. -
Terrorism Insurance: Congress to the Rescue? ( August 2003 )
As the cost of terrorism insurance soared, many borrowers found it difficult to secure insurers willing to provide coverage for terrorism at reasonable rates. Prior to September 11, 2001, insurers and reinsurers did not deem the risk of terrorist attacks material enough to fashion exclusions for such events in all-risk insurance policies covering high-rise office buildings. The state of the insurance industry, however, underwent a dramatic change following the destruction of the World Trade Center. Due to the scale of damages and the unpredictability of future terrorist attacks, many reinsurers began refusing to renew coverage for terrorist attacks. In response, as primary all-risk policies came up for renewal, almost all primary property and casualty insurance carriers began to exclude terrorist acts from coverage. This exclusion forced commercial property owners to look to stand-alone terrorism coverage. -
An Overview of the Terrorism Risk Insurance Act of 2002 ( December 2002 )
On November 26, 2002, President Bush signed into law the Terrorism Risk Insurance Act of 2002. The Act, which takes immediate effect, serves as a financial backstop, enabling commercial insurers to provide affordable terrorism coverage to policyholders. It is expected to benefit businesses that were unable to obtain terrorism coverage after September 11, 2001. -
Summary of Encryption Policy Update ( March 1999 )
This document is an overview of the rules applying to export of software with encryption capabilities. -
Inventory of State and Local Law Enforcement Technology Needs to Combat Terrorism ( January 1999 )
This article summarizes the first phase in a two-phase project sponsored by the National Institute of Justice (NIJ) under the Anti-Terrorism and Effective Death Penalty Act of 1996.
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