A rating firm said U.S. property-casualty insurers face little impact on their portfolios from the subprime mortgage market collapse, but European carriers could face legal claims, according to an insurance brokerage.

Moody's Investors Service said today it estimates that total U.S. p-c industry exposure to subprime-related investments is less than $15 billion.

The assessment of European insurers came yesterday from Marsh Inc.

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