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https://www.congress.gov/crs-product/R47042
It would seem Insurance does actually cover acts of terrorism as long as they exceed $5million in damages, the amount Tesla has conveniently been claiming at each of their locations; with such claims partially or even fully subsidized by the federal government.
The specifics of the current program are as follows: (1) a terrorist act must cause $5 million in insured losses to be certified for TRIA coverage, (2) the aggregate insured losses from certified acts of terrorism must be $200 million in a year for the government coverage to begin, and (3) an individual insurer must meet a deductible of 20% of its annual premiums for the government coverage to begin. Once these thresholds are met, the government covers 80% of insured losses due to terrorism
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.
That still excludes the people driving around in a swasticar
If the Orange Turd officially state that it is domestic terrorism then does that now mean, if it is official, that anyone personally owning anything from Tesla is uninsured?
No, the liability insurance would still be valid, but the insurance wouldn’t pay out in the event of vandalism
