Reinsurance brokerage provider John B. Collins Associates announced that Jim Grant, senior vice president, will speak on Terrorism Reinsurance for Health at the Society of Actuaries’ Valuation Actuary Symposium in San Diego on Sept. 11. Grant’s presentation will be part of a Health Reinsurance panel discussion moderated by William Bluhm, Principal & Consulting Actuary at Milliman USA.
“The terrorist attack on the World Trade Center and the Pentagon on September 11, 2001, was the costliest global insurance event in history, causing ten times the level of losses suffered from Hurricane Andrew in 1992,” said Grant. “With the Terrorism Risk Insurance Act (TRIA) of 2002, the U.S. government created a backstop for property and casualty insurers, but didn’t address the health insurance market. Fortunately, modeling and reinsurance is now available for this industry. Working with the reinsurance markets, Collins has developed creative solutions specifically for terrorism coverage in the health insurance arena.”
“While terrorism coverage is still underutilized, there is positive movement toward understanding and managing these risks,” according to Pat Denzer, president and co-CEO of Collins.
The Valuation Actuary Symposium will be held Sept. 11-12, at the Hotel Del Coronado in San Diego. For more information on this conference, visit the Society of Actuaries Web site at www.soa.org.
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