"The U.S. Government's terrorist insurance legislation, TRIA, and its extension, TRIEA, have presented some unique challenges for many of our clients, especially for smaller companies where the Act provides meaningful protection based on their writings and surplus position. Sometimes their ratings hinge on the continuing protection TRIEA affords. Faced with the risk that Congress may not renew or continue to extend the Act, one such client approached us for help. Although we were unwilling to offer unlimited terrorism exposure, we sat down and discussed the problem with them. The upshot was that we were able to structure a unique reinsurance solution that both satisfied their needs and fit our risk/reward parameters. That's pretty typical for PartnerRe. Through openness and transparency, market expertise, and a willingness to be creative, we can come up with solutions to even the most difficult risk transfer problems."
Dick Sanford
Specialty Casualty Business Unit, PartnerRe U.S.