A possible U.S. government default on its debts, if the federal debt ceiling is not increased, will not “in the near term” hurt the property-casualty insurance sector, according to a financial analysis firm.

“In the unlikely event that the United States Government postpones the payment of interest or principal on obligations that come due in the near term, the property-casualty insurance industry, as a whole, is uniquely positioned to hold its own,” according to a statement from Demotech. The Columbus, Ohio-based company provides actuarial consulting services to the insurance industry.

Congress and President Barack Obama continue to seek common ground on how to proceed, either by increasing the debt ceiling in the short term or cutting expenses. The Obama Administration says by Aug. 2, if a deal isn’t reached, the U.S. will begin to default on some bills.

Demotech said the property-casualty insurance sector holds about $150 billion in U.S. government bonds, with less than $50 billion maturing in the next year.

That figure represents about 3% of the property-casualty insurance sector’s aggregate cash and invested assets in the next year, meaning insurers won’t be hurt greatly if a disruption in cash flows occurs, according to the company.