Insurers speak out on terrorism

WASHINGTON, DC – It is unlikely that private insurers will ever be able to assess and price terrorism risk insurance, according to insurance experts who testified before the US Congress at the end of July.

Appearing before a joint hearing of the Financial Services Committee and the Homeland Security Committee, regarding Terrorism threats and the insurance market, the industry executives said a private market solution to terrorism coverage is not feasible because acts of terrorism are too difficult to predict.

"The foundation of private insurance rests on the ability to effectively pool the loss experience of policyholders exposed to relatively homogeneous, random and independent risks where the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here