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Insurance Ratings Agency A.M. Best Co. says 34 rating units failed a stress test to assess capitalization sans the federal terrorism backstop.

If the Terrorism Risk Insurance Program Reauthorization Act is not reauthorized, the agency has determined about 4 percent of an overall 889 rating units are too reliant on TRIPRA and “materially exposed to terrorism risk,” says Michael Russo, senior analyst and author of a briefing.

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