Wednesday, January 9th, 2002 — Analysts for Standard & Poor's in New York said today that although commercial insurers won't renew many types of commercial policies as they seek to cut terror risks the rating implications of non-renewal actions will be limited for corporate insureds.
Sol Samson, a managing director with Standard & Poor's Corporate Ratings group, said in a statement that, "The ratings implications for corporates are likely to be very limited and selective."
While there may be additional risk for corporations that results from lack of coverage or the much greater expense to obtain coverage, he said "the impact would be material only in situations where the perceived specific risk of a terrorist incident was high."