New York Regulator Surveying Insurers on TRIA Risk

December 31, 2014

  • January 2, 2015 at 2:24 pm
    Insurance person says:
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    The interesting thing is that the NY DOI is helping to create an availability crisis there by refusing to approve Post-TRIPRA exclusions or rates, as other states have done except FL. So if no one in NY can now reject or exclude terrorism, and no one can charge for it, how long do they feel the marketplace will take to respond to those circumstances? Today most NY insureds reject terrorism either because they are not concerned about the exposure or do not wish to pay the premiums. So the answer to the survey should be highly dependent on whether or not the NY DOI will now allow terrorism exclusions/rate filings to be approved, if TRIPRA is not quickly reauthorized in some fashion by the new Congress.

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