If two jihadists blowing up the Boston Marathon isn’t terrorism, then what is?
Via Boston Globe:
The Boston Marathon bombing attacks were not an “act of terrorism,” the US Treasury has ruled, which conveniently means terrorism insurance claims need not be paid out in full.
In the wake of the 9/11 attacks, Congress passed the Terrorism Risk Insurance Act, which created federally-backed insurance in cases of damage due to terrorism. Some Boston businesses were among those that bought the insurance.
Those purchases became relevant after the Boston Marathon bombings on April 15, 2013. Of the 160 companies located near the marathon’s finish line that submitted insurance claims, just 14 percent had purchased terrorism insurance, Insurance Journal reported.
Update: The Boston Globe is walking back their claim, they issued this correction:
Correction: This story initially said that indicated the US Treasury had ruled that the Boston Marathon bombings were not an act of terrorism under the federal statute. That is incorrect. As the Treasury spokesperson says, the Treasury has not determined that there has been an “act of terrorism” under the statute. The story also incorrectly said the state had issued $1.9 million in bomb-related insurance claims. It was the state’s largest property and casualty insurers that issued the claims, not the state itself.