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States Ease E&S Terror Exclusion Restrictions

During the past two years, the surplus lines market has experienced a marked resurgence, primarily due to hardening rates and the desire of the standard market to drop miscellaneous lines and concentrate on core writings.

This trend was accelerated after the events of Sept. 11. Commercial lines insurers and their brokers found it increasingly difficult to renew property-casualty coverages in the United States due to their reinsurers’ reluctance to cover terrorism risks and by Congress’ delay in adopting a federal backstop for losses from future terrorist events.

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