PCS To Offer Loss Estimates For Terrorism-Related Events

The Property Claim Services unit of the Insurance Services Office has expanded its capabilities to include loss estimates for potential catastrophic terrorism losses.

PCS, based in Jersey City, N.J., will assign catastrophe serial numbers to potential terrorism events likely to have caused at least $5 million in insured losses anywhere in the United States, Puerto Rico and the U.S. Virgin Islands. PCS selected a $5 million threshold to coincide with the amount specified by the federal Terrorism Risk Insurance Act.

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