Credit insurers better placed than 2008, says Moody’s
Moody’s has described credit insurers as “more resilient to losses than in the 2008 crisis”, but warned that there were still potential problems.
The credit rating agency found that under stress-test scenarios the insurers would have a diminished ability to rebound from another crisis.
It said that underwriting discipline had relaxed in the industry in the past two years and that the amount of insured risks had increased while prices have fallen.
In the 2008-09 credit crisis brokers were faced with clients having their insurance withdrawn at short notice. The testing from Moody's suggested that currently credit insurers would be in better
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