Actuaries Studying Terrorisms Reach
The American Academy of Actuaries in Washington is currently studying the impact of terrorism on certain life and medical insurance products as well as possible insurance solutions to terrorist acts.
The focus of the study is on nonmedical products that include long term care insurance, group life insurance and short-term and long-term disability insurance as well as medical insurance products.
The nonmedical insurance products are being examined because they are among products that would be sold to employer groups, says Jan Carstens, chair of the AAAs terrorism/extreme events working group and a consulting actuary with Milliman USA, Minneapolis.
One of the goals of the working group, she continues, is to identify who is impacted. According to Carstens, among those affected are insurers, reinsurers, private employers, provider organizations and government.