Calif. WCIRB Anticipates Results of Terrorism Study

The California Workers’ Compensation Insurance Rating Bureau (WCIRB) engaged EQECAT in Jan. 2003, a nationally recognized catastrophe modeling firm, to prepare an analysis of potential terrorism losses in California.

Preliminary results of the EQECAT terrorism model for California indicate California loss costs resulting from terrorist acts as defined in the Terrorism Risk and Insurance Act of 2002 range from less than $0.01 to $0.04 per $100 of payroll, depending on the underlying assumptions. The results of the study will be finalized and published within the next several weeks.