Modeling the Solvency Impact of TRIA on the Workers Compensation Insurance Industry

Topics:
Insurance,
Workers Compensation
Tags:
Benefits,
Terrorism Risk Insurance Act,
Regulations,
Payroll Solutions,
Modeling,
Insurance Industry,
Insurance,
Industry,
Human Resources,
Government,
...
Source:
Casualty Actuarial Society

FREE Registration is required

Overview: The enterprise in a rating bureau risk model is the insurance industry. This paper describes how statewide or national loss exceedance curve output from a catastrophe model for workers compensation losses from terrorist attacks can be combined with insurance industry financial data in a basic model to estimate the financial impact on the United States workers compensation insurance industry. The model is run with and without consideration of recoveries to insurers from the Terrorism Risk Insurance Act (TRIA) in order to assess the impact of this law on industry solvency. Qualitative results that indicate that TRIA does provide a very high level of protection to the industry are discussed.

(Is this item miscategorized? Does it need more tags? Let us know.)

Format: PDF | Size: 313KB | Date: Apr 2005 | Pages: 15

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