New York, California Balk At ISO Terrorism Exclusions
Insurance industry organizations are predicting turmoil for somesectors of Californias commercial insurance market and the generaleconomy after the state's insurance commissioner rejected terrorismexclusion language proposed by the Insurance Services Office,Inc.
In addition to faulting the action by California CommissionerHarry W. Low, the insurance groups also said they expect problemsin New York. Insurance Superintendent Gregory V. Serio did notimmediately reject the proposed language, but he did refuse toautomatically approve policies with ISO terrorism damageexclusions.
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