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Winds of Change:
The Changing Landscape
Of Catastrophic Risk
Experts in hurricane, earthquake and terrorism risk review the outlook for 2010
and associated insurance exposures.
I’m Lee McDonald with the A.M. Best Company. Welcome to our webcast, “Winds of Change. The Changing Landscape of Catastrophic Risk.” We have a large turnout today so thank you to everyone for registering. This is an interactive session. If anything occurs to you please send your question or comment to this email address, news@ambest.com. We’ll do our best to recognize it.
We’re talking about extreme events here involving sometimes-high levels of cover. We have an excellent panel. I’m joined by Marilyn Ostermiller of the A.M. Best Company. Marilyn, could you introduce our folks?
MARILYN OSTERMILLER: We have a combination of subject matter experts and insurance professionals. I’d like to start by asking each guest to tell us about themselves and their organizations. Let’s start with Brian Finlay. Brian is Senior Associate and Director at the Henry L. Stimson Center. Brian, could you give us an overview of how the Stimson Center is involved in assessing the risk of terrorism?
BRIAN FINLAY: The Stimson Center is a nonprofit public policy think tank in Washington, D.C. that is dedicated to issues of national security. It may seem a logical mismatch between the insurance industry and issues of politics and national security. In fact, we work quite closely not only with governments in creating innovative and hopefully forward leaning policies that will help prevent, we hope, the acquisition of nuclear, chemical and biological weapons from falling into the hands of terrorists. Increasingly we work with private-sector companies. For instance, technology companies, shipping companies, up and down the supply chain, and increasingly insurance companies as well. We’re trying to not only assess risk and the likelihood of a catastrophic event but also looking for inventive ways in which these firms who are increasingly targets of terrorism both in this country and abroad. They’re looking for innovative ways they can engage in mitigation efforts to ultimately prevent a catastrophic event from occurring.
OSTERMILLER: Thank you, Brian. We also have with us Sanjay Godhwani. He’s Executive Vice President and
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