A major brokerage group said it will offer a proposal for aterrorism reinsurance facility to an insurance industry meeting onterrorism tomorrow in Washington.

The proposal from Chicago-based Aon Corp. is to create amandatory terrorism reinsurance facility funded by the privatesector that would have the federal government pay all costs above$40 billion and up to $100 billion for a single event.

Aon's Re Services unit said it will propose the private-sectorsolution at tomorrow's National Symposium on Terrorism RiskInsurance at the Cannon House Office Building.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.