Foreign TERRORISM PREMIUM (FTP)


Foreign TERRORISM PREMIUM (FTP) : Foreign Terrorism is a hazardous exposure that was unfunded prior to Congress enacting the Terrorism Risk Insurance Act (TRIA) on November 26, 2002. At that time, the National Council on Compensation Insurance (NCCI) developed a premium charge, approved by the Oregon Insurance Commissioner, to cover this exposure. The term "Foreign Terrorism Premium" replaces "TRIA" in policy documents
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