The best offense may be a good defense for the insurance industry, which faces increasingly blue statehouses and legislatures across the country following Democratic gains on Election Day–with hundreds of seats featuring brand-new lawmakers thanks in part to term limit rules.
Indeed, the Democratic swing in state elections throughout the country could pose stiff challenges to the industry looking to hold onto recent gains, according to Don Griffin, director of personal and commercial lines for the Property Casualty Insurers Association of America.
While the federal Terrorism Risk Insurance Act might be seen as the exception that proves the rule, insurers generally look upon Republicans more favorably than Democrats as more receptive to their needs, Mr. Griffin noted.
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