Monday, September 17th, 2001 — Surplus lines insurers are unlikely to feel the immediate financial impact of the World Trade Center disaster that standard insurers will, but they may face a surge of submissions as a result of the tragedy, according to an insurance analyst.
"The E&S exposure from the World Trade Center events, on the claims side, is going to be way low compared to the standard market," Ralph Cagnetta, man-aging senior financial analyst for A.M. Best Company in Oldwick, N.J., told National Underwriter during a recent interview.
Most of the large-limit policies, work-ers' compensation and preferred busi-ness interruption business that will result in claims, was written on an admitted ba-sis, he said, predicting only "isolated ex-posure for some surplus lines compa-nies."