Moodys Surveys Insurers On TRIA; Ranks Exposure The Terrorism Risk Insurance Act of 2002 has resulted in lower terrorism premiums, but many buyers still consider the price too high to buy it, according to a survey of U.S. commercial lines insurers by Moody's Investors Service.
Jim Bartie, vice president for Moodys in New York, said survey participants included the major U.S. commercial lines writers, writing over 50 percent of commercial premiums.
In a special report released late last month, the rating agency also ranked insurers to determine their degree of exposure to a $25 billion terrorist event as a percentage of their 2001 policyholders' surplus. To do this, Moodys assumed that losses from such an event borne by individual insurers would be proportional to their commercial lines market shares.
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