WASHINGTON--A major terrorist attack on New York City could cause an insured loss exceeding $700 billion that would crush commercial insurers, according to an actuaries study.
That estimate was produced by the American Academy of Actuaries, which added its voice to the insurance industry chorus calling for a federal framework to help carriers provide coverage for terrorism risk.
Their analysis of what is needed to sustain a terrorism risk insurance market is among the industry testimony submitted to the President's Working Group on Financial Markets, which is studying the terrorism insurance issue.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
