N.Y. Terror Insurance Rules Spark Controversy New Yorks insurance department has put rules in place allowing commercial customers to change or cancel their terrorism coverage without penalty.
The departments action at the end of last week came after New York Insurance Superintendent Gregory V. Serio strongly criticized some industry segments for not doing an adequate job of providing terrorism coverage.
Meanwhile, the departments action has received mixed reactions, from "troublesome" to a non-issue by national insurer trade groups.
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