AAIS Filing "Noncertified" Terror Exclusions

NU Online News Service, Jan. 17, 3:18 p.m. EST?The American Association of Insurance Services in Wheaton, Ill. said it is starting to file policy language for its members with individual state regulators that excludes losses from "noncertified" acts of terrorism.

Non-certified terrorist acts, AAIS said, are classified as those carried out by groups based in the United States, plus all terrorist acts, from whatever source, that cause less than $5 million in total insured losses.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.