AM Best anticipates failure of TRIEA renewal in firm assessments

The rating agency is asking for terrorism loss mitigation plans from companies at risk from an attack

Legislation to implement a permanent solution to terrorism insurance in the US could be enacted as early as April but US credit rating agency AM Best says that with the potential non-renewal of the federal loss-sharing backstop, it will continue to take a more rigorous approach in its due diligence when evaluating a company’s overall capital position, cycle management and risk-management controls.