The American Association of Insurance Services (AAIS) has completed a countrywide filing of revised commercial lines endorsements for excluding insurance coverage for losses resulting terrorism.
In a related matter, AAIS staff will be participating in an upcoming teleconference meeting under the auspices of the National Association of Insurance Commissioners (NAIC) to determine what action is appropriate regarding personal lines coverage or exclusions for terrorism losses. AAIS originally filed terrorism exclusions in November 2001, in response to requests from its member companies who reported that their reinsurers planned to exclude coverage for terrorism in contracts up for renewal on Jan. 1, 2002.
AAIS revised those filings in response to a late December policy recommendation by the NAIC. To reflect that recommendation, the revised AAIS filings --
