NAMIC Calls for One Definition of Terrorism

Monday, December 17th, 2001 Catastrophe

The National Association of Mutual Insurance Companies (NAMIC) commented on a draft definition of terrorism released recently by an Ad Hoc Committee on Legal Issues of the National Association of Insurance Commissioners (NAIC). The NAIC intends to employ this definition in approving exclusions for terrorism. "The single most frequently expressed concern is that there should be one definition of terrorism," wrote Peter Bisbecos, NAMIC‘s legislative and regulatory counsel. "The acts of September 11th have caused a great deal of uncertainty in the insurance industry. Three months later we still don‘t know all the ramifications."

---

http://www.insurancejournal.com/html/ijweb/breakingnews/national/na1201/na1217012.htm

---