Insuring against terrorism.

• Position: Stateline - Brief Article

Insurance regulators in 45 states, the District of Columbia and Puerto Rico have approved contract language that allows insurers to exclude terrorism coverage from commercial policies. California and New York declined the request by Insurance Service Office Inc., a private firm that filed for exclusions nationwide on behalf of the insurance industry. Decisions are pending in Florida, Georgia and Texas. The National Association of Insurance Commissioners reached an agreement in December to allow exclusions for terrorist acts that cause losses exceeding $25 million until...