Actuaries Say Comp Highly Exposed to Terror Risk

Mounting evidence of the effects of the Sept. 11 terrorist attacks on the cost and availability of property/casualty (P/C) insurance was provided in a report released today by the Extreme Events Committee, American Academy of Actuaries. The Academy is the public policy organization representing all actuaries practicing in the U.S. and regularly provides analysis to lawmakers, regulators and the media. "The evidence is growing that insurance companies are significantly raising premiums, and eliminating or limiting terrorism coverage, because of the tremendous financial risks posed by the thre...