Terrorism exclusions widely approved.(by state insurance regulators)(Brief Article)

State insurance regulators in nearly all jurisdictions have either approved exclusions for terrorism in commercial lines policies or are taking steps to allow insurers to exclude such risks.

The main focus of regulators in most jurisdictions-with the notable exceptions of California and New York-is to approve exclusions that are at least as extensive as the latest language regulators negotiated last month with the Insurance Services Office Inc. in Jersey City, N.J.

In November, ISO had filed optional in every U.S. jurisdiction (BI, Dec. 17, 2001). ISO subsequently limited the exclusions, however, following negotiations in December with regulators from the …