The American Insurance Association praised the actions of The New Hampshire state legislature in approving a bill (HB 460) that adds terrorism as an exclusion under the state’s standard fire policy (SFP), which the AIA had supported.
“This change will help to stabilize the insurance marketplace by removing an unpredictable and potentially infinite risk in the form of a terrorist attack,” stated Paul Moran, AIA vice president, northeast region. He noted that The New Hampshire SFP already excluded similar risks, including attack by enemy forces, invasion, insurrection, rebellion, revolution or civil war.
“This bill recognizes that there is a threat that no one thought about before September 11, 2001,” added Moran. The AIA is urging Gov. Craig Benson to sign the bill into law.
Topics Catastrophe Natural Disasters
Was this article valuable?
Here are more articles you may enjoy.
Read 14-Point Draft Memorandum of Understanding Between the US and Iran 
Hacking Group Claims Major Hack of Novo Nordisk and Attempted $25M Extortion 
Mississippi Insurance Dept. Top Examiner Named in $90M Credit Union Theft Suit 
Ship Owner Seeks Dismissal of Economic Loss Claims From Baltimore Bridge Collapse 
