Property Claim Services has expanded its offerings to include loss estimates for potential catastrophic terrorism losses. Catastrophe serial numbers will be assigned to catastrophic workers' compensation losses and 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 for potential terrorism catastrophes to coincide with the amount specified by the federal Terrorism Risk Insurance Act. The estimates of claims for potential terrorism acts will include losses for personal and commercial lines (including workers' compensation), but the losses will be identified separately.
More information is available at www.iso.com.
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