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A Primer on Terrorism Insurance
The Terrorism Risk Insurance Act (“TRIA”), 15 USC '6701 et. seq., designed to make terrorism insurance readily available to property owners, is scheduled to sunset on Dec. 31, 2005. If the Act is not extended and the cost of terrorism insurance becomes prohibitive, lenders and borrowers may once again find themselves embroiled in controversy over the question of whether governing loan documents require such insurance.
TRIA
Prior to 9/11, terrorism insurance was typically issued without additional charge in about 70% of all insurance policies. (U.S. Department of the Treasury, Report to Congress Assess-ment: The Terrorism Risk Insurance Act of 2002, June 30, 2005.) By 2003, the number of insurance companies offering terrorism insurance at no cost dropped to slightly under 40%, as part of an industrywide effort to curtail terrorism coverage. After the events of 9/11, the National Council of Compensation Insurers recommended the use of blanket terrorism exclusions.
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Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
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Legal Possession: What Does It Mean?
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The Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.