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Actuaries Submit Terrorism Risk Analysis

The American Academy of Actuaries has submitted its analysis on terrorism risk insurance, concluding that a national framework for terrorism risk is necessary if terrorism coverage is to be widely and readily available.

By staff Writer | Updated on May 25, 2006

The American Academy of Actuaries, in response to questions posed by the President’s Working Group on Financial Markets, has submitted its analysis on terrorism risk insurance, concluding that a national framework for terrorism risk is necessary if terrorism coverage is to be widely and readily available.

According to the report, the actuaries were not able to identify any insurance, reinsurance, or capital market solution that could finance such potential insured losses from a large chemical, nuclear, biological or radiological (CNBR) event. With their solvency threatened, insurers would be forced to limit their exposures to loss from a terrorist attack.

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