With respect to the original AAIS War,
Military Action, and Terrorism Exclusions (CL 0468, AP 0686, BP 0674, GL 0985, GS 0194, FL 0450, FO
0450, and GL 0990), which were distributed as attachments to Bulletins 02-0158 and
02-0224:
On December 10, 2002, the Alaska Division of Insurance issued
Bulletin B 02-20 detailing requirements for compliance with the Terrorism Risk Insurance
Act of 2002. Contrary to guidance provided by most other states and the NAIC, this state
will no longer allow the use of any previously approved War and Terrorism exclusions.
Companies should immediately discontinue using these exclusions on all new and renewal
policies.
In discussing these exclusions, the
bulletin states:
By order R 02-08, the Director of the
Alaska Division of Insurance is withdrawing approval of existing terrorism exclusions
containing these limitations. Therefore, an insurer may not apply these exclusions for
non-certified losses to new and renewal business. Exclusions for non-certified losses will
be re-evaluated. Exclusions for non-certified losses must be filed with and approved by
the division before they may be used.
Use the following link to view the
entire Alaska bulletin. Click on Bulletin B02-20.
http://www.dced.state.ak.us/insurance/bulletins/bulletins.htm |