Am I reading that correctly, that for the gov to start covering individual damages of over 5 million the OVERALL terrorism damages in that year have to be greater than 200 billion?
Million, not billion. But the 20% deductible probably means that insurers can’t get that money, because the way it’s stated they’d have to pay out more than 20% of their (total) premiums for coverage to begin.
Am I reading that correctly, that for the gov to start covering individual damages of over 5 million the OVERALL terrorism damages in that year have to be greater than 200 billion?
Million, not billion. But the 20% deductible probably means that insurers can’t get that money, because the way it’s stated they’d have to pay out more than 20% of their (total) premiums for coverage to begin.
Ah, yeah. Misread, that makes way more sense.