ACE Does Not Expect Price-Gouging In New Terrorism Insurance Market

Price-gouging for terrorism coverage is unlikely because it is in the best interests of the insurance industry to set premiums at “reasonable” levels so that the risk is spread as widely as possible, one leading industry executive contends.

At the same time, pressure from rating agencies and regulators should discourage carriers from irresponsibly “giving away” terrorism coverage, according to Brian Duperreault, chairman and chief executive officer of ACE Ltd., and chairman of ACE Tempest Re, based in Hamilton, Bermuda.

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