What it is
The Terrorism Risk Insurance Act requires insurers to disclose the premium charged for coverage of certified acts of terrorism and the federal share of terrorism losses. ISO publishes several disclosure forms for this purpose:
- IL 09 85: discloses the terrorism premium for the policy.
- IL 09 99: discloses premium through the end of a stated year plus an estimated premium beyond that date.
- IL 09 98: discloses the premium through the end of a stated year.
Like the other disclosure forms, IL 09 98 does not grant coverage or change policy terms. It informs the policyholder about the terrorism premium and the federal program.
Where it is used
Carrier form schedules filed through SERFF list IL 09 98 in the 01 15 and 12 20 editions. Examples are a 2021 commercial umbrella TRIA filing in Alaska and a 2024 medical products program filing in Maryland. Insurers typically use it when a policy period extends past a year-end and only the premium through that year-end is being disclosed.
