P/C insurers would weather debt ceiling crisis
Tuesday, July 26th, 2011 Auto Legislation & Regulation Liability Property Workers' CompensationCongressional failure to raise the federal debt ceiling by Aug. 2 should not significantly immediately affect property/casualty insurers, analysts and observers say. Failure to raise the nation’s debt ceiling is not synonymous with a sovereign default in which a government does not honor its debts. While a failure to raise the debt ceiling remains a possibility, the odds of a default are extremely remote, observers say.
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