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AAIS Unveils Terrorism Exclusion. (Briefing).


An influential insurance advisory group took on the thorny problem of terrorism exclusions for property/casualty coverage in the wake of the Sept. 11 terrorist attacks on the World Trade Center and the Pentagon.

The American Association American Association refers to one of the following professional baseball leagues:
  • American Association (19th century), active from 1882 to 1891.
  • American Association (20th century), active from 1902 to 1962 and 1969 to 1997.
 of Insurance Services, an advisory organization whose policy forms, manual rules and loss-cost rating information are used by more than 600 property/casualty insurers, said it is initiating filings across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area.  of commercial-lines endorsements that would exclude losses resulting from acts of terrorism.

Harrington said the action is meant to address a short-term crunch for primary insurers as they renew contracts with their reinsurers--many of which have said they wouldn't cover terrorism-related losses.

"We're taking this action to respond to an immediate need," said Joseph S. Harrington Rock Critic; Author of Sonic Cool:The Life And Death Of Rock And Roll
Joe Harrington was born in Portland, Maine to a dirt poor laborer father and a mother who all she did was bake bread.
, AAIS AAIS American Association of Insurance Services
AAIS Advanced Airborne Interceptor Simulator
AAIS ACE ACCIS Implementation Strategy (NATO)
AAIS America Association of Italian Studies
AAIS Administration Automated Information System
 spokesman. "Jan. 1 reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract.  renewals are coming up, and primary insurers have asked us to make sure their exposure is in line with their reinsurance."
COPYRIGHT 2001 A.M. Best Company, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Article Details
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Publication:Best's Review
Article Type:Brief Article
Geographic Code:1USA
Date:Dec 1, 2001
Words:152
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