Washington–An American Academy of Actuaries subgroup has addedits voice to the chorus calling for a permanent solution to theproblem of insuring terrorism risk.
The Academy's Terrorism Risk Insurance Act subgroup said in astatement that the "magnitude of potential insurance claims due toterrorist events makes permanent federal legislation necessary inorder to make terrorism coverage widely and readily available."
This conclusion was based on an analysis of the potentialimpacts of a terrorist attack and how insurance companies couldreact to sudden changes in their perceived exposure tocatastrophes.
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