Sept. 11 altered reinsurer risk outlook. (Reinsurance Rendezvous Report).(Brief Article)

National Underwriter Property & Casualty-Risk & Benefits Management, September, 2002 by Howard, Lisa S.

The terrorist attack on Sept. 11, 2001, redefined the world's conception of risk and had a big impact on the reinsurance industry's approach to writing business, according to a report released here by London-based Aon Ltd. "Never had it been deemed possible that a single catastrophe, and particularly a man-made one, could affect such a wide range of business," said the report, entitled: "Reinsurance--A Retreating or Resurgent Market?" Constituting the largest loss in history, the World Trade Center disaster will cost the industry between $30 billion and $50 billion, said Charles Cantlay, deputy chairman of Aon's U.K.

reinsurance group, who discussed the report during a press conference here at the annual reinsurance Rendez-Vous de Septembre. Although the...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.