Terrorism modeling for conventional bombs and Chemical, Biological, Radiological, and Nuclear (CBRN) attacks has evolved to evaluate the technical implications of attack scenarios, but still far short of estimating probable insured and economic losses that would encourage private market capacity, according to a new report.
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Catastrophe Models
Terrorism Risk Models Still Fall Short as Reinsurers “Struggle” With Loss Estimates
Nearly a quarter century following the 9/11 attacks, a new report says critical gaps in current risk modeling capabilities continue to constrain private sector participation in terrorism risk coverage.
