The New Hampshire state legislature has approved a bill (HB 460) that adds terrorism as an exclusion under the state’s standard fire policy (SFP), a bill supported byThe American Insurance Association (AIA).
“This change will help to stabilize the insurance marketplace by removing an unpredictable and potentially infinite risk in the form of a terrorist attack,” Paul Moran, AIA vice president, northeast region, remarked. 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,” Moran added.
AIA is urging Gov. Craig Benson to sign the bill into law.
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