New York--Insurance executives at an industry conference here suggested that as chances fade for extension of the federal backstop for terrorism insurance, problems with insurance rates and availability will grow.
Competition that still exists for large property-casualty risks could soon disappear, according to executives at Standard & Poor's conference in a discussion of legislative issues.
They said that while the industry received some minor relief from class action reform, there are major concerns about the possible Dec. 31 sunset of the Terrorism Risk Insurance Act.
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