ISO Files Terror Forms with All States

Insurance Services Office, Inc. (ISO) yesterday filed with all state insurance regulators the commercial insurance policy forms carriers can use to sell terrorism coverage. The new ISO-developed forms contain standardized policy contract language for underwriting terrorism coverage in existing policies as well as new and renewal policies. ISO filed the forms and developed rating information in response to the Terrorism Risk Insurance Act of 2002, signed by President George W. Bush Nov. 26. The law provides financial backing by the federal government for insurance losses certified by the Secr...