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Sept. 11 Exposed Insurer Modeling Flaws

Tucson, Ariz.

The Sept. 11 terrorist attacks on the United States exposed a flaw in the insurance industrys modeling process, an industry executive told a meeting of captive insurers here.

Indeed, a post-catastrophe review revealed that the industrys models for the aggregation of different types of risk “were actually inadequate,” according to John Alfieri, executive vice president at Munich-American RiskPartners in Princeton, N.J.

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