Fitch: Failure to reauthorize TRIA may lead to higher premiums

05/6/2013 | Business Insurance (tiered subscription model)

Terrorism insurance would face decreased availability while rates for such coverage could increase if Congress fails to extend the Terrorism Risk Insurance Act, according to Fitch. "Insurers' sophistication regarding terrorism risk has evolved significantly since 2001, with a heightened focus on managing risk aggregations in larger metropolitan areas. Still, the industry remains in a challenging position in terms of modeling and underwriting terrorism-related risk," the ratings firm said.

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