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Feds might not certify Boston as 'act of terror'

 
Feds might not certify Boston as 'act of terror'
Posted April 18th, 2013 @ 8:34am by Mark Russell, Newser Staff

(NEWSER– President Obama has called the Boston Marathon bombings terrorism, but apparently insurance companies aren't inclined to agree. After 9/11, Congress enacted the Terrorism Risk Insurance Program to help stabilize terrorism insurance premiums, and under that federal law, Treasury Secretary Jack Lew must certify violent incidents as an "act of terrorism," along with Secretary of State John Kerry and AG Eric Holder. However, no such certificate has been issued for the Boston bombings, and with property damage expected to be less than the $5 million threshold, Lew cannot certify the attack, reports the Wall Street Journal.

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