I\’m not sure I understand. Yes, we did experience the tragedy of 9/11-once.
Since, we have experienced tragedies such as Charlie, Frances, Jeanne, Ivan, Katrina, Rita and Wilma (04 & 05 only) without benefit of a Congressionally mandated/support relief program. Is it the combination that necessitates Congressional Involvement?
The issue is really the lack of reinsurance protection for Terrorism vs nat cat losses. Until the reinsurance marketplace (as a whole, not opportunistically) can figure out how to make money on underwriting terrorism it will remain generaly unavailable.
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I\’m not sure I understand. Yes, we did experience the tragedy of 9/11-once.
Since, we have experienced tragedies such as Charlie, Frances, Jeanne, Ivan, Katrina, Rita and Wilma (04 & 05 only) without benefit of a Congressionally mandated/support relief program. Is it the combination that necessitates Congressional Involvement?
The issue is really the lack of reinsurance protection for Terrorism vs nat cat losses. Until the reinsurance marketplace (as a whole, not opportunistically) can figure out how to make money on underwriting terrorism it will remain generaly unavailable.