Quantifying Terrorism Risk for Insured Portfolios
- Topics:
- Insurance
- Tags:
- Business Operations,
- Strategy,
- Security,
- Risk Management Solutions,
- Risk Management,
- Management,
- Insurance,
- Homeland Security,
- Government,
- Financial Planning,
- ...
- Source:
- Risk Management Solutions
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Overview: As with Hurricane Andrew in 1992, and the Northridge Earthquake in 1994, the terrorist attack on the World Trade Center on September 11, 2001, has resulted in major advances in the quantification and management of a class of catastrophe insurance risks. The control of accumulations of exposure in urban areas is a basic principle of insurance portfolio management, but quantitative terrorism risk assessment, which has evolved rapidly as a technical discipline since 9/11, has capabilities extending well beyond this primary beach- head objective. These capabilities are described in this paper within a review of the mathematical concepts and numerical methods used for quantifying terrorism risk.
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Format: PDF | Size: 38KB | Date: Jun 2003 | Pages: 11
