ISO Files Terrorism Policy Language
NU Online News Service, May 3, 12:39 p.m. EDT?The Insurance Services Office, Inc. said it has asked state regulators to approve commercial policy contract language covering terrorist acts if Congress fails to extend the federal terrorism insurance backstop beyond 2005.[@@]
The Jersey City, N.J.-based subscription products-services-information group said the optional endorsement language it filed will help insurers and policyholders manage potential coverage problems posed by the potential Dec. 31, 2005, "hard ending" of the Terrorism Risk Insurance Act program.
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