DENNOTATION AND CONNOTATION

In literary works, usage of selected words or dictions are giving the difference respon from the readers. Selected words that use to express the idea from the writers sometime are   different with the real meaning. The purposes  are making the words look like more beautiful, and giving the readers feel different atmosphere when they are in reading literary works. Every writers express their feeling through the different ways. One of them is using connotation and denotation. connotation is a commonly understood subjective cultural or emotional association that some word or phrase carries. Connotation is very important in poetry for it is one of the mean by which the poet can concentrate or enrich meaning-say more in fewer words.

Connotation is frequently described as either positive or negative, with regards to its pleasing or displeasing emotional connection. It can be positive when the words used for giving good statement. It also can be negative when the words used for giving bad statement. For Example : “Akbar is a Strong-willed”. a word “Strong-willed”  it can be positive when the word used for explain the people who has good determination. And “Pig-headed”  it can be negative when the word used for explain the people who never want to receive suggestion and advice from the others.

Within today's society, connotation branches into a mixture of different meanings. These could include the contrast of a word or phrase with its primary, literal meaning (known as a denotation), with what that word or phase specifically denotes. The connotation essentially relates to how anything may be associated with a word or phrase, for example, an implied value judgment or feelings.  For example : in bahasa we known that “buah tangan” if  we mean every single word, it will be “buah” its mean fruits. And “tangan” is mean hand or a part of body. It will be different when those word combined into one. It will produce new meaning is “Oleh-oleh”.

Connotation not only one which can be parameter of good poetry or other literary work. On other parameter is denotation.  Connotation and denotation are not two separate things/signs. They are two aspects/elements of a sign, and the connotative meanings of a word exist together with the denotative meanings. Connotation represents the various social overtones, cultural implications, or emotional meanings associated with a sign.Denotation is the real meaning of the word. Denotation represents the explicit or referential meaning of a sign. Denotation refers to the literal meaning of a word, the ‘dictionary definition.’ For example, the name ‘Hollywood’ connotes such things as glitz, glamour, tinsel, celebrity, and dreams of stardom. In the same time, the name ‘Hollywood’ denotes an area of Los Angeles, worldwide known as the center of the American movie industry. An other  example of word chair. Let see this sentence “ Anas Urbaningrum dropped the chair just because a corruption case. Those sentence means that, Anas Urbaningrum dropped from their position in a party. The chair here means, a position (Leader, vice leader and so on) an element of style, refers to the words writers use to express ideas. If those word being in dennotation, the “chair” means the real form of chair, that is place for sitting.

THE IDEA OF JUSTICE

IDEA OF JUSTICE

Justice is the first virtue of social institutions, as truth is of systems of thought."^[3] Justice can be thought of as distinct from and more fundamental than benevolence, charity, mercy, generosity, or compassion. Justice has traditionally been associated with concepts of fate, reincarnation or Divine Providence, i.e. with a life in accordance with the cosmic plan. The association of justice with fairness has thus been historically and culturally rare and is perhaps chiefly a modern innovation. Variations of justice are Utilitarianism is a form of consequentialism, where punishment is forward-looking. Justified by the ability to achieve future social benefits resulting in crime reduction, the moral worth of an action is determined by its outcome. Retributive justice regulates proportionate response to crime proven by lawful evidence, so that punishment is justly imposed and considered as morally correct and fully deserved. The law of retaliation (lex talionis) is a military theory of retributive justice, which says that reciprocity should be equal to the wrong suffered; "life for life, wound for wound, stripe for stripe. Restorative justice is concerned not so much with retribution and punishment as with (a) making the victim whole and (b) reintegrating the offender into society. This approach frequently brings an offender and a victim together, so that the offender can better understand the effect his/her offense had on the victim. Distributive justice is directed at the proper allocation of things—wealth, power, reward, respect—among different people. Understandings of justice differ in every culture, as cultures are usually dependent upon a shared history, mythology and/or religion. Each culture's ethics create values which influence the notion of justice. Although there can be found some justice principles that are one and the same in all or most of the cultures, these are insufficient to create a unitary justice apprehension. definition of justice is that justice is the having and doing of what is one's own. A just man is a man in just the right place, doing his best and giving the precise equivalent of what he has received. This applies both at the individual level and at the universal level. A person's soul has three parts – reason, spirit and desire. Similarly, a city has three parts – Socrates uses the parable of the chariot to illustrate his point: a chariot works as a whole because the two horses’ power is directed by the charioteer. Lovers of wisdom – philosophers, in one sense of the term – should rule because only they understand what is good. If one is ill, one goes to a doctor rather than a psychologist, because the doctor is expert in the subject of health. Similarly, one should trust one's city to an expert in the subject of the good, not to a mere politician who tries to gain power by giving people what they want. justice requires according individuals or groups what they actually deserve, merit, or are entitled to. Justice, on this account, is a universal and absolute concept: laws, principles, religions, etc., are merely attempts to codify that concept, sometimes with results that entirely contradict the true nature of justice.

In a world where people are interconnected but they disagree, institutions are required to instantiate ideals of justice. These institutions may be justified by their approximate instantiation of justice, or they may be deeply unjust when compared with ideal standards — consider the institution of slavery. Justice is an ideal the world fails to live up to, sometimes despite good intentions, sometimes disastrously. The question of institutive justice raises issues of legitimacy, procedure, codification and interpretation, which are considered by legal theorists and by philosophers of law.

RELIGION VALUE VS SOSIAL VALUE VS CULTURAL VALUE

In the United States pollsters and scholars have found evidence that the vast majority of Americans continue to believe in supernatural forces, identify themselves in religious terms, and hunger for a spiritually enhanced life. Regarding the later, there is clear evidence that many Americans participate regularly in religious and spiritual small groups and form a large market for religious/spiritual books, tapes, music, and paraphernalia. Religion is a significant factor in voting patterns, ideology about public policy, and political careers. But pervasive evidence also exists for changes that many observers see as religious decline: declining membership, particularly among liberal/mainline Protestant denominations, and declining participation in religious services and traditional forms of piety like prayer and Bible reading. Tolerance of "other religions" grows along with declines in specific confessional and denominational loyaltiesIn the United States pollsters and scholars have found evidence that the vast majority of Americans continue to believe in supernatural forces, identify themselves in religious terms, and hunger for a spiritually enhanced life. Regarding the later, there is clear evidence that many Americans participate regularly in religious and spiritual small groups and form a large market for religious/spiritual books, tapes, music, and paraphernalia. Religion is a significant factor in voting patterns, ideology about public policy, and political careers. But pervasive evidence also exists for changes that many observers see as religious decline: declining membership, particularly among liberal/mainline Protestant denominations, and declining participation in religious services and traditional forms of piety like prayer and Bible reading. Tolerance of "other religions" grows along with declines in specific confessional and denominational loyalties.

Culture can be considered as the entire social heritage of man; specifically, it is the tradition of a particular human group, a way of living learned from, and shared by, the members of that group. Understanding the concept of culture is key to understanding human behavior.

Religion, like culture itself, consists of systematic patterns of beliefs, values, and behavior, acquired by people as a member of their society. These patterns are systematic because their manifestations are regular in occurrence and expression: they are shared by member of a group. Within all religions, however, there is not homogeneity; there are differences of interpretation of principles and meanings.

What becomes important is to recognize what is implied by the nature of the "sacred." For some this means that when you enter a church sanctuary or temple you adjust your attitude toward the sacredness of the place and the reason that you have went there for. To others in different cultures, sacredness takes on the importance of life itself.

Culture has been defined as the system of shared beliefs, values, customs, behaviors and artifacts that the members of society use to cope with their world and with one another, and that are transmitted from generation to generation through learning (this definition is from a University of Manitoba web page, selected for its brevity). 

Religion has been defined as a system of beliefs based on humanity's attempt to explain the universe and natural phenomena, often involving one or more deities or other supernatural forces and also requiring or binding adherents to follow prescribed religious obligations. Two identifying features of religions are they to some extent (a) require faith and (b) seek to organize and influence the thoughts and actions of their adherents. Because of this, some contend that all religions are to some degree both unempirical and dogmatic and are therefore to be distrusted. 

I have always been interested in why the world is the way it is: the origins of our religions and the structure of our universe (both scientifically and socially). I have found that the reality of the world and its history can be different than I was taught. These interests lead to the investigation of " what is life " and " who am I " from a personal and religious perspective.

GOVERNMENT DUTY

A government is an institution that holds the exclusive power to enforce certain rules of social conduct in a given geographical area. If physical force is to be barred from social relationships, men need an institution charged with the task of protecting their rights under an objective code of rules. This is the task of a government—of a proper government—its basic task, its only moral justification and the reason why men do need a government. A government is the means of placing the retaliatory use of physical force under objective control—i.e., under objectively defined laws.

The only proper purpose of a government is to protect man’s rights, which means: to protect him from physical violence. A proper government is only a policeman, acting as an agent of man’s self-defense, and, as such, may resort to force only against those who start the use of force. The only proper functions of a government are: the police, to protect you from criminals; the army, to protect you from foreign invaders; and the courts, to protect your property and contracts from breach or fraud by others, to settle disputes by rational rules, according to objective law. But a government that initiates the employment of force against men who had forced no one, the employment of armed compulsion against disarmed victims, is a nightmare infernal machine designed to annihilate morality: such a government reverses its only moral purpose and switches from the role of protector to the role of man’s deadliest enemy, from the role of policeman to the role of a criminal vested with the right to the wielding of violence against victims deprived of the right of self-defense. Such a government substitutes for morality the following rule of social conduct: you may do whatever you please to your neighbor, provided your gang is bigger than his. The source of the government’s authority is “the consent of the governed.” This means that the government is not the ruler, but the servant or agent of the citizens; it means that the government as such has no rights except the rights delegated to it by the citizens for a specific purpose.
Modern governments perform three classes of services:

• Aggregating funds to be spent on common needs
• Holding and disbursing funds for social insurance services
• Creating and adjudicating rules for interactions between people and institutions

Recent arguments about the proper roles of government have mixed these together and clouded the issue. Let's take them one at a time. The first service class includes items like national military support, public health and the operation of the government itself. It is possible to eliminate these common services. For example, there are many countries in the world where defense is handled on a regional or clan basis. Health services are provided by charities or private care institutions. It is generally believed that this is not a good model for modern industrialized states, however.

The second service class includes old age pensions, unemployment support and some health services. The government collects fees from the populace, puts it into an insurance fund and then pays it out when a service is required. The guiding principal is that the risk is spread over the covered populace and thus the cost per person is moderate. By having the government administer the insurance programs it is hoped that the costs will be kept low, since there is no profit to be paid to the insurance company owners. Furthermore since the government can't "go broke" the insurance funds are safer than those of a private fund and less susceptible to fraud or graft. In the US, at this time, we have a mixed model with some insurance provided by the government and some by private sources. In many other developed countries the government funds play a much bigger role and the insurance extends to other types of hazards.

The third service is provided by the legal mandate given to government. It is supposed to create and administer laws which are fair and equitable. Imagine any team sport without rules or referees. Experience has shown that neither the teams nor the fans find this acceptable. Without an independent referee disputes in a game could not be resolved. Most fans and teams are willing to put up with the occasional bad call rather than no calls at all. The same thing applies in government. Lately there has been a great deal of discussion about the power of the free market to regulate itself or the "invisible hand" to sort things out. Hundreds of years of experience has shown this not to work. Time and again markets have become unstable, either with bubbles such as the famous tulip mania or the "South Sea Island" bubble, or have become overly concentrated such as the standard oil trust. This leads inefficiency, since prices are distorted and resources are diverted from innovation and expansion of socially useful tasks. Without a referee the situation eventually fails anyway, but later and with more social damage than a well regulated society would provide.

DEBATABASE

From this week, British expats or travellers who have been seriously injured in overseas terrorist atrocities will be able to claim up to £500,000 in compensation. Previously, people injured in terrorist attacks have only qualified for compensation from the Criminal Injuries Compensation Scheme if the incident happened in the UK. "We should support and compensate those people who sadly have been injured in overseas terrorist atrocities,” said justice minister Crispin Blunt in a statement. "While we will never be able to put right the harm victims of terrorism suffer, we hope this scheme will go some way towards helping them rebuild their lives." The compensation will be available to people who were affected by six specific incidents after January 2002: namely, the 2002 bombings in Bali, Indonesia; the 2005 minibus bombing in Kusadasi, Turkey; the 2005 Sharm el Sheikh terror attacks; the 2006 bombings in Dahab, Egypt; the 2006 bomb attacks in Marmaris, Turkey; and the 2008 at

                                    Souce : http://www.telegraph.co.uk

VIVAnews - The UN human rights council in Geneva next month to discuss the possibility of granting insurance or compensation for the victims of terrorism. If approved, the compensation will be the new international law that must be complied with all UN member states.Reported by The Guardian, compensation plans as international law is based on reports Ben Emmerson, Special Rapporteur for the UN counter-terrorism and human rights. Besides delivered at the UN Human Rights council meeting in Switzerland on June 20, the report will also be read out at the Emerson UN General Assembly in New York on 28 June.

Emmerson made following reports of suffering Will Pike, 31, a victim of terrorism in Mumbai, India, 2008. Pike are disabled in the attack, said he did not receive any financial aid from the government. Pike report was followed by reports of other terror victims in Bali, Turkey, and Egypt.Victims of terrorism in the UK can apply for compensation through the Criminal wound Compensation Authority. The pay is between 1,000 pounds to 500,000 pounds sterling. However, the process is considered to be long-winded and too long.

Life insurance.In his report to the UN later, Emerson urged insurance companies in the United Nations member states to include "terrorist attacks" as part of the submission of a life insurance policy. In addition, Emmerson also urged insurance companies to provide medical care for their dependents who are injured or killed in a terrorist attack while on vacation.

Emerson also said UN member countries should provide the necessary assistance to victims of terrorism, including compensation and rehabilitation

If Emmerson report is accepted, then all UN members should use the new international legal standards related to the treatment of the victims of terror. UN member states also have to agree that terrorism is a violation of human rights of the victims.Thus, the state is directly or indirectly be involved in ensuring the welfare of the victims. (Ren)

                                    Source : vivanews.com

People seriously injured or maimed by terrorist attacks across the world would be granted automatic legal rights to compensation and rehabilitation under far-reaching changes to rebalance international law in favour of victims, a UN report will recommend next month.The report, drawn up by the UN's special rapporteur on counter-terrorism and human rights, Ben Emmerson, a leading British lawyer, will be welcomed by the UK government at a time when the international legal system faces criticism for doing too much to protect the rights of alleged supporters of terrorism, such as the radical cleric Abu Qatada.

Emmerson's report, details of which have been obtained by the Observer, is to be presented to the UN human rights council in Geneva on 20 June and the general assembly in New York on 28 June. It is understood to have support in the Foreign Office and other UK departments, including the Home Office. The report is also thought to have backing among Council of Europe members, including Spain, which has led the international campaign to highlight the rights of victims of terrorism.Emmerson will press the case for life insurance policies, most of which do not at present cover people killed in terrorist attacks, to pay up to bereaved next of kin. The proposals would also affect travel insurance policies that cover medical and other care for those killed or injured through terrorism while on holiday.

                                                            Source :  http://www.guardian.co.uk

It would apply when people were not covered by schemes in the country where an attack took place. Currently compensation covers victims who are killed or injured in terrorist incidents in the UK only. Although the measures will not be fully retrospective, ministers said victims of terrorism overseas since 2002 would be eligible for compensation. Details of that part of the scheme would be announced at a later date, Home Secretary Alan Johnson said.

Injuries suffered

Justice Secretary Jack Straw said: "Terrorism is intended as a political statement and an attack on society as a whole. "Therefore it is right that, as a tangible expression of sympathy, society should compensate the victims of terrorist attacks abroad in recognition of the injuries suffered." The government said the Victims of Overseas Terrorism Compensation Scheme would broadly mirror the existing domestic criminal injuries compensation scheme which operates in England, Scotland and Wales. The amount of compensation would be calculated according to a tariff based on the seriousness of injury. 'Ongoing consequences'The scheme was announced by Mr Johnson, Mr Straw, Foreign Secretary David Milliband and Humanitarian Assistance Minister Tessa Jowell. It will cover terrorist incidents abroad with immediate effect. The scheme will also apply to victims of attacks since January 2002 in recognition of those who "continue to face hardship as a result of the ongoing consequences of a disability arising from the injuries they sustained". It will be contained in the Crime and Security Bill which is currently making its way through Parliament, and be administered by the Glasgow-based Criminal Injuries Compensation Authority. Incidents where UK victims of terrorism abroad and their families have campaigned for compensation include attacks in Mumbai in 2008, Sharm al-Sheikh in 2005, and Bali in 2002. 'Rollercoaster ride'Trevor Lakin, from Peterborough, has campaigned for a compensation scheme since his son Jeremy Lakin, 28, and his son's girlfriend Annalie Vickers were among the Britons killed in Sharm al-Sheikh. The father was in the House of Commons to hear Mr Johnson make the announcement. Mr Lakin told the BBC News website: "It's absolutely brilliant. We've been fighting for four-and-a-half years to get this. "We came very close before Christmas but that failed because the MoD wanted to clarify the position of military personnel. "We were aware things were about to happen and I travelled down to London to actually sit in the House to hear Alan Johnson say that. It's fantastic." He added: "We always knew that retrospectivity was difficult but I think the government realised that since 9/11 there were issue for victims. "There was no way we could stand by and do nothing for all those who have suffered. "It's been a rollercoaster ride trying to persuade the powers that be that those affected deserve support."

                                    Source :  http://news.bbc.co.uk

Compensation policy sought for civilian victims of terrorism

* Report says mere legislation against terrorists not enough 

* No framework exists to compensate civilian victims of violence

By Manzoor Qadir

ISLAMABAD: The speakers at a discussion on Wednesday urged the authorities to form a uniform as well as comprehensive policy and legislative framework for awarding compensation money to the civilian victims of conflict and terrorism in the country.

The speakers expressed these views at a lunching ceremony of a report titled, “Compensating Civilian Victims of Conflict and Terrorism in Pakistan”. The Institute of Social and Policy Sciences (ISAPS) published the report in collaboration with the Foundation Open Society Institute (FOSI). Both the institutes conducted an extensive research on the existing policies and practices being adopted by federal and provincial governments for award of compensation to the victims. The report offers an unprecedented review of the available frameworks in this regard. The report unveiled by ISAPS Research Fellow Dr Ali Ahmed Ali revealed, “Different regimes have been engaged in making laws to curb terrorism and setting up special courts and tribunals for the smooth prosecution of the accused involved in terrorism cases, but no one paid heed to make proper laws regarding award of compensation to civilian victims of conflict and terrorism." Dr Ali said that laws for the war-injured existed in the constitution but no legislation was made for the civilian victims of terrorism. “The issue of award of compensation money to the civilian victims of terrorism and conflict only existed in the notifications without any proper legislation,” he said. There was complete disparity of awarding the compensation money to victims (deceased and injured both) among all the four provinces and Gilgit-Baltistan (GB) in the country, he said. Provincial government of Balochistan and Islamabad Capital Territory Administration (ICTA) awarded Rs 0.4 million to the family of each deceased whereas Khyber Pakhtunkhwa (KP) and GB governments paid Rs 0.3 million to family of each victim (in case of death) of any bomb blast, target killing or any other civilian conflict and terrorism incident, Ali said, adding that provincial governments of Punjab and Sindh paid Rs 0.5 million each to the families of the deceased, much higher than other provinces.

“The governments of Balochistan as well as GB and ICTA give Rs 0.1 million to each person in case of major injury while Sindh and KP award Rs 0.2 million to each injured. The compensation money in Punjab is much lower than all others as it pays only Rs 75,000 against any major injury, while in case of minor injuries, Balochistan, GB and ICTA give no compensation to the injured. Punjab gives only Rs 5000, while KP government awards Rs 0.1 million each to the minor-injured in blasts and suicide bombings,” he revealed.

Dir DCO Dr Ataur Rehman regretted that the report lacked inclusion of those victims of FATA, PANA and the areas where military conducted operations. He also raised question that the report did not discuss the total money spent on the victims so far by the federal and provincial governments. The report did not deal with the total money budgeted by the government to handle the ongoing wave of terrorism, he stated.

Parliamentary Committee on Human Rights Chairman Riaz Fatyana assured that a bill would be tabled in the assembly to support the victims of aggression. He said efforts would be made to allocate permanent fund for victims in the fiscal budget. Campaign for Innocent Victims of Conflict (CIVIC) Country Director Micheal Shaikh observed that available evidence suggested that majority of the victims of aggression incidents were civilians

                        Source : http://www.dailytimes.com.pk

Risks Eligible for Terrorism Cover

It is possible to cover most types of commercial property under the scheme: buildings, their contents, site property, construction projects and plant and machinery. It is also possible to cover business interruption losses arising from damage to such property. However, the scheme does not cover property insured under marine, aviation or motor policies and it does not cover property on licensed nuclear sites, for which separate arrangements are in place.

Because the Pool Re arrangements are concerned only with losses which follow from damage to commercial property, it does not extend to life or personal injury. Nor does the scheme protect private property, although it can cover residential property insured by a firm (such as a block of flats owned by a property company).

To be eligible for the scheme, the property must be located in England, Scotland or Wales; it does not apply to property in Northern Ireland, the Isle of Man or the Channel Islands. The property must normally be insured under a general commercial policy issued by a Pool Re member covering conventional fire and explosion damage. Members do not provide terrorism cover under the scheme on a ‘stand-alone’ basis, i.e. in a policy covering terrorism only.

If a policyholder decides to extend their policy to include terrorism cover, they must cover all the property they insure. They cannot use the scheme to insure only part of their property portfolio for terrorism.

                        Source :  http://www.poolre.co.uk

Developing a national policy for compensating victims of terrorism through research and dialogue with an interdisciplinary team of practitioners and academics.

Following the 9/11 attacks, Congress promptly passed victim compensation legislation to address the social, political and economic needs of the nation. One consequence of Congress's expeditious provision of a compensation fund was that important policy decisions regarding victim compensation were made without much public participation or careful debate and in the context of the federal government's effort to save the airline industry. The fund that was established to supplant traditional tort actions was administered by a special master who was given wide discretion in determining the administrative procedures and compensation awards. Whatever the success of the 9/11 Fund, few argue that an after-the-fact scheme is the best way to address the important issues related to compensating victims of terrorism. At the same time, the compensation funding scheme has gained some traction as a policy option for compensating victims of mass torts. Variations on the funding scheme were established after the 2007 I-35T Minnesota bridge collapse, the 2007 Virginia Tech shooting, and the recent BP oil spill.  

This project addresses questions of how and to what extent to provide compensation for victims of terrorism - through the generosity of charitable organizations, a publicly-funded compensation scheme, private insurance, tort suits or some combination. In the case of programmatic funding schemes like the 9/11 Fund, experts are analyzing the best administrative models for allocating and distributing funds. 

Source :  http://insct.syr.edu

On Sept. 11, 2012, Linda St. Peter, Operations Manager for Prudential Connecticut Realty in Wallingford, Conn., testified on behalf of NAR at the House Financial Services Subcommittee on Insurance, Housing, and Community Opportunity hearing on “TRIA at Ten Years: The Future of the Terrorism Risk Insurance Program.”  In her testimony, Ms. St. Peter urged Congress to extend the Terrorism Risk Insurance Act (TRIA) beyond its current December 2014 authorization to ensure that adequate insurance coverage is available for our nation’s businesses.

Following the Sept. 11 attacks private insurers backed out of the terrorism insurance marketplace prompting Congress to enact TRIA in 2002, a federal insurance backstop that allows the federal government and private insurance companies to share losses in the event of a major terrorist attack.  The program has since been reauthorized by Congress twice – in 2005 and 2007. TRIA helped stabilize commercial real estate markets by making terrorism coverage available and more affordable over time.

While the cost and availability of terrorism insurance has generally improved, currently there is concern that the uncertain future of TRIA may cause insurance prices to fluctuate and prompt insurers to drop coverage. This became evident in both 2005 and 2007 when private insurers became reluctant to offer terrorism coverage due to the uncertainty regarding the program’s extension.

Ultimately, the uncertainty of insurance pricing impacts the net operating income of businesses and property values. The potential unavailability of terrorism coverage could impact financing agreements and potentially hurt the fragile commercial real estate recovery.

Source :  -terrorism-insurance-coverage.htm

In the absence of private market innovations and solutions, sustaining a viable private market for terrorism insurance depends on a federal backstop. The NAIC and state insurance commissioners play an essential role administering the terrorism risk insurance program—issuing timely guidance to insurers and consulting with the U.S. Department of the Treasury and its Terrorism Risk Insurance Program Office.

The NAIC has played an active role in fostering the program and providing assistance to insurers and the federal government as the program is implemented. The NAIC and its members have also testified before both houses of Congress on the need to extend the program.

The NAIC’s Property and Casualty Insurance Committee and its Terrorism Insurance Implementation Working Group (TIIWG) recently adopted a model bulletin, including anexpedited filing form intended to help state insurance regulators advise insurers about regulatory requirements related to providing terrorism insurance under the revised program. The model bulletin provides guidance to insurers related to rate filings and policy language that state regulators would find acceptable to protect U.S. businesses from acts of terrorism. The model bulletin describes important changes that are contained in the Act and informs insurers regarding whether rate and policy form filings might be needed.

On December 19, 2007, the Property and Casualty Insurance Committee and the Terrorism Insurance Implementation Working Group adopted the Model Disclosure Forms [Form 1] [Form 2]. Insurers use the forms as drafted, they may modify the forms to meet individual circumstances or use forms that are substantially similar. The U.S. Department of the Treasury worked with the Committee and the Working Group to assure that the disclosures satisfy the revised disclosure requirements in the Act.

The U.S. Department of the Treasury also implements the Terrorism Risk Insurance Program. Their web site provides updated information on the Program, including announcements of all rulemakings, interpretive guidance, and requests for public comments.

http://www.treasury.gov/resource-center/fin-mkts/Pages/program.aspx

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