Quantifying Insurance Terrorism Risk

Topics:
Insurance
Tags:
Business Operations,
Security,
Scenario,
Risk Management Solutions,
Risk Management,
Research & Development,
Management,
Insurance,
Homeland Security,
Government,
...
Source:
Risk Management Solutions

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Overview: This paper addresses the challenge of quantifying terrorism risk. The classic definition of risk is that it is a product of hazard and vulnerability. The second factor deals with the loss inflicted if a specific terrorist scenario were to occur. Such a scenario might involve the crash of a plane into an urban area, a city bomb blast, a harbor LNG ship explosion, detonation of a nuclear device, etc. Modeling a specific scenario is essentially a complex engineering problem, not dissimilar, in principle, to the scenario analysis conducted for natural perils such as windstorms and earthquakes.

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Format: PDF | Size: 269KB | Date: Feb 2002 | Pages: 19

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