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December 03, 2004
Could Spitzer Probe Derail TRIA Extension? It's Political Poison To Align With The Insurance Industry Right Now, Analyst Warns
Fallout from the insurance brokerage fee and bid-rigging scandal will make it harder for the industry to secure extension of the Terrorism Risk Insurance Act in Congress, top insurer executives and analysts warned.
"It's political poison to align with the insurance industry right now," said Steven Dreyer, managing director and North American practice leader at Standard & Poor's in New York, addressing a roomful of many of the biggest players in the business at the 16th annual Executive Conference for the Property-Casualty Industry, sponsored by S&P and PricewaterhouseCoopers. "This will hinder the industry's legislative agenda," starting with passage of TRIA extension, he added.
Posted by Tom Troceen