Insurers Warned Not To Avoid New York
New York
Insurers could provoke federal regulation if they shy away from the insurance needs of New York City following devastating terrorist attacks, New York Insurance Superintendent Greg Serio warned at an industry conference here.
Mr. Serio, speaking at the annual PricewaterhouseCoopers property-casualty insurance executive forum, said that if companies secure a measure from the U.S. Congress to backstop terrorism risk, their attitude towards New York "cant be, well just write 20 percent of what we wrote last year.'"
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