Terrorism options
A discussion of terrorism options.
Click 
next to the terrorism peril. Then in the
Terrorism Options dialog box, enable or disable toggles to include or
exclude certain terrorism events. Default settings are established in the program and
portfolio templates in the Administration Console.
Verisk's terrorism perils cover events for either or both conventional and CBRN (chemical, biological, radiological and nuclear defense) weapons types, for both international and domestic events; the default setting is to include all of these terrorism events. Filtering options allow you to exclude certain events that would not be covered by certain insurance policy exclusions and conditions as interpreted by ISO and Verisk.
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Pollution Exclusion clause: Eliminates a percentage of biological and chemical attacks based on the likelihood that the method of distribution is excluded by the pollution exclusion.
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Virus and Bacteria Exclusion clause: Eliminates all biological events.
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Standard Fire Policy (SFP): Provides a feature to analyze books of property policies that do not have coverage for terrorism (because the policyholders declined the mandatory offer under the Terrorism Risk Insurance Act) but the properties are in the Standard Fire Policy states which do not permit exclusions from any cause of fire. The affected states are CA, GA, HI, IL, IA, ME, MA, MO, NY, NC, OR, WA, WV, WI. For this case, a portion (60%) of the conventional bomb attacks are included as likely incendiary bombs that could be interpreted as fire events. It also includes the blast-related effects from radiological and nuclear bombs. No damages from biological or chemical weapons are included. When the SFP option is selected, Touchstone Re will estimate losses for any terrorism exposures entered in these states for events that meet mandatory coverage criteria under standard fire policies.