Catastrophic Losses versus Growth Potential: Analysis of Post-WTC Attack Earnings Forecasts of Insurance Industry
- Topics:
- Insurance
- Tags:
- Analysis,
- International Insurance Society,
- Insurance,
- Homeland Security,
- Government,
- Financial Planning,
- Finance,
- Earnings Forecast,
- Corporate Insurance,
- Business Security,
- ...
- Source:
- International Insurance Society
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Overview: The terrorist attack on the World Trade Center (WTC) on September 11th, 2001 had an enormous impact on the insurance industry. According to Swiss Reinsurance (2002), estimated insured loss is between $30 and $58 billion. Simultaneously, this event has greatly changed how the insurance industry and the public view terrorist risks. The general public has become to consider terrorist attacks as a virtual threat, and their overall perception of risk has also changed. Subsequently, the demand for insurance, especially for commercial property-liability (P&L) insurance, has greatly increased after the WTC attack. The main objective of this study is to examine the short-run catastrophic claim effect and the long-run growth effect after the WTC attack.
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Format: WORD
