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Moody’s Investors Service Inc. said Tuesday it may reduce the ratings of many insurance and reinsurance firms due to losses incurred by their policyholders as a result of the recent terrorist attacks in the United States.

“While the losses reported to date by rated insurers do not pose a threat to solvency, the magnitude of expected claims is significant and has not generally been factored into existing ratings,” the U.S. credit-rating agency said in a press release.

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