NEW YORK--Irresponsible competition is the biggest risk facing the insurance industry, and Eliot Spitzer is a shoe-in to become New York's next governor, according to a recent poll of insurance industry leaders.

Roughly 100 executives from both the property-casualty and life sectors answered the survey at Standard & Poor's 23rd annual insurance conference, "Insurance 2006: Rethinking Risk," held in New York, with 36 percent citing irresponsible competition as the single biggest risk impacting the insurance industry.

In second place, natural catastrophes were the biggest risk concern for 29 percent of those polled on the multiple-choice question.

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