According to the Washington Post, insurance executives told state regulators in Washington, D.C., last week that minus federal help, it could be months or years until they can provide terrorism coverage. They added workers‘ compensation and group life to a list of insurance lines that policyholders could find difficult or very costly to purchase.
In lobbying for more state-level permission to exclude terrorism coverage from their policies, executives admitted that the exclusions simply move the risk on to their policyholders. Insurers, however, said they have nowhere to turn due to a market for terrorism insurance that has gone dry, especially for owners of high-profile buildings or businesses with a large concentration of workers in one locale.
