WELCOME TO APRIL! My daily insurance news service is overflowing with great headlines today. First, a state Supreme Court finally ruled on ISO’s “impaired property” CGL exclusion and found it valid. The court praised ISO’s verbiage as “a model of clarity,” adding, “We find nothing even remotely ambiguous in the language and thus find for the insurer.”

In further coverage news, ISO admitted it made a “huge mistake” in modifying its homeowners form’s coverage provision for students away at school. ISO announced it will immediately file a notice to carriers and state insurance departments to withdraw the revisions and revert to previous form wording, effective nationwide April 1.

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