New York--Insurance executives at an industry conference heresuggested that as chances fade for extension of the federalbackstop for terrorism insurance, problems with insurance rates andavailability will grow.
Competition that still exists for large property-casualty riskscould soon disappear, according to executives at Standard &Poor's conference in a discussion of legislative issues.
They said that while the industry received some minor relieffrom class action reform, there are major concerns about thepossible Dec. 31 sunset of the Terrorism Risk Insurance Act.
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