Professional Sports Teams Looking for Terrorism Insurance Win in Congress By Kathleen Hunter | June 2, 2014 Email This Subscribe to Newsletter Email to a friend Facebook Tweet LinkedIn Print Article Article 7 Comments June 2, 2014 at 2:11 pm Agent says: Like or Dislike: 0 0I wonder sometimes how much premium for Terrorism has been paid by Businesses and Individuals since 9/11. It would have to be in the billions by now. Reply June 2, 2014 at 5:01 pm Sargeant Major says: Like or Dislike: 0 0Hello Agent, You are correct and the next question might be what do the reserves look like to the expected loss pick? Reply June 3, 2014 at 8:55 am Libby says: Like or Dislike: 0 0“Expected Loss Pick???” How on earth would you come up with that? Reply June 3, 2014 at 8:19 pm nomesaneman says: Like or Dislike: 0 0Like anything else – it’s modeled, usually in 1/4 mile “Rings”. Co9mpanies who write it need to monitor their accumulations and set aside reserves that look OK to the regulators. Here’s a link to an AIR white-paper if you’re interested: http://www.google.com/url?url=http://www.air-worldwide.com/publications/white-papers/documents/terrorism-risk-assessment–best-practices-for-insurers-and-reinsurers&rct=j&frm=1&q=&esrc=s&sa=U&ei=VWSOU8GwNuPQsQTIz4DgBA&ved=0CE4QFjAF&sig2=GR16OVn039E6qKsmM9IcqA&usg=AFQjCNGUAKpnQktiBaVsBkjZ0wrdNaWOLA Last I heard – Terror Insurance loss ratio (since its advent) is <2%. Reply June 4, 2014 at 11:58 am Libby says: Like or Dislike: 0 0That’s figuring your PML, not a loss pick. June 2, 2014 at 4:35 pm Old Lawman says: Like or Dislike: 0 0Quick question. Im interested if anyone can advise if this is a government subsidized program ? Reply June 3, 2014 at 8:56 am Libby says: Like or Dislike: 0 0It is reinsured by the government. Reply Add a Comment Cancel reply Your email address will not be published. Required fields are marked * Name * Email * Comment ΔNotify me of comments via e-mail
I wonder sometimes how much premium for Terrorism has been paid by Businesses and Individuals since 9/11. It would have to be in the billions by now.
Hello Agent,
You are correct and the next question might be what do the reserves look like to the expected loss pick?
“Expected Loss Pick???” How on earth would you come up with that?
Like anything else – it’s modeled, usually in 1/4 mile “Rings”. Co9mpanies who write it need to monitor their accumulations and set aside reserves that look OK to the regulators. Here’s a link to an AIR white-paper if you’re interested:
http://www.google.com/url?url=http://www.air-worldwide.com/publications/white-papers/documents/terrorism-risk-assessment–best-practices-for-insurers-and-reinsurers&rct=j&frm=1&q=&esrc=s&sa=U&ei=VWSOU8GwNuPQsQTIz4DgBA&ved=0CE4QFjAF&sig2=GR16OVn039E6qKsmM9IcqA&usg=AFQjCNGUAKpnQktiBaVsBkjZ0wrdNaWOLA
Last I heard – Terror Insurance loss ratio (since its advent) is <2%.
That’s figuring your PML, not a loss pick.
Quick question. Im interested if anyone can advise if this is a government subsidized program ?
It is reinsured by the government.