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North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.


Treasury Announces Administrative Changes to the Terrorism Risk Insurance Program

December 30, 2003

The Treasury Department today reminded all participants and observers of the Terrorism Risk Insurance Program that there will be two important changes in the program's administration in 2004.

As mandated by Congress, beginning on January 1, 2004 and throughout the remainder of 2004, an insurer's deductible will increase from 7 percent to 10 percent of the insurer's direct earned premium over the previous calendar year. Second, the ?mandatory availability? provisions of the Act will require insurers to continue to make available coverage for certified acts of terrorism for the full annual policy periods of all commercial property and casualty insurance policies that are issued or renewed in 2004. The ?make available? requirement under the Act applies to December 31, 2004 while coverage issued as a result of the requirement will extend for the normal annual policy period beyond 2004. As required by the Act, the Treasury Department will be evaluating whether the ?mandatory availability? provisions should be extended for policies that are issued or renewed in 2005.

The final and proposed regulation and other information related to the Terrorism Risk Insurance Program can be found at http://www.treasury.gov/trip/ .

Source: Treasury Department



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