Business Services Industry
WTC attack drives efforts to quantify terrorism risks.(News)(World Trade Center)
Business Insurance, September, 2006 by Hofmann, Mark A.
Byline: MARK A. HOFMANN & DOUGLAS McLEOD A tool unavailable to U.S. insurers at the time of the Sept. 11, 2001, terrorist attacks is helping them manage terrorism risks with increasing sophistication. The first commercially available versions of that tool-terrorism risk modeling-appeared in the marketplace in 2002.
Like catastrophe models, terrorism models help insurers limit their aggregate exposures in a given geographic area. Unlike catastrophe models, however, terrorism models cannot draw upon a century of data, and factors such as terrorist attack frequency remain unknown. Still, "virtually all insurers who have any material amount of terrorism exposure'' are managing the risk with such models, said Peter Ulrich, senior vp-model management at Newark,...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
