9/11 loss estimates narrow.(Top Stories Of The Week)

National Underwriter Property & Casualty-Risk & Benefits Management, September, 2003 by Ha, Michael

As the United States observes the second anniversary of the Sept. 11 tragedy this week, a number of industry experts noted that various loss estimates to property-casualty insurers have been settling, and even lowered in some cases, over the past year. Still, there remains some significant wildcards that could impact overall insured costs down the road.

For instance, New York-based consultancy Tillinghast-Towers Perrin, which stopped formally updating its 9/11-related loss estimates last year, told National Underwriter that its informal loss estimate for p-c insurers is down by some $10 billion. "Our estimate for property-casualty was $38-to-$50 billion last year. And we are not formally tracking this anymore, but I would say that our estimate today would...

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