On the 10th anniversary of 9/11, terrorism insurance remains stable, but availability and affordability could be affected should there be a catastrophic event that reduces capacity, according to a report from Guy Carpenter.
The reinsurance broker, a subsidiary or Marsh & McLennan Cos., released in August an 18-page report, "Terrorism: Terror Market Continues To Provide Abundant Cover." According to the report, capacity in the United States is estimated to stand somewhere between $6 billion and $8 billion.
However, the report notes that a portion of the capacity remains available through the Terrorism Risk Insurance Act of 2002 (TRIA), which provides a government backstop to acts of terrorism.
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