No country can claim to be protected from terrorism risk. While counter terrorism has achieved great progress over the last decade, the threat of large attacks, using in particular chemical, biological, radiological and nuclear (CBRN) weapons of mass destruction as well as that of cyber attacks is real. The possible multiplication of medium-size terrorist attacks within a limited time frame is another major challenge.
The heads of all the terrorism insurance programmes in OECD countries, the head of the terrorism insurance scheme of Russia and Israel (which has since become a member of the OECD) and more than 100 leading experts in terrorism insurance gathered together for the first time at the OECD in Paris in 2010. They agreed that co-operation and information sharing between all the stakeholders in the terrorism risk insurance market should be enhanced in response to the global terrorism threat. As very little regulatory and market information is available on a comparable basis on national programmes and markets, they decided that a permanent international e-platform on the financial management of terrorism risk should be set up to fill this information gap.
This e-platform monitors the evolution of national terrorism insurance programmes and the degree of government participation in these schemes. It tracks market trends, and identifies and shares best practices to continuously improve terrorism insurance solutions and financial resilience to terrorism. It is a source of information for risk managers, insurance market stakeholders and policy makers interested in a richer understanding of the financial management of terrorism risk.
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DOCUMENTS AND LINKS National terrorism insurance programmes
Terrorism Risk Insurance in OECD Countries (2005)
Catastrophic Risks and Insurance (2005)
Environmental risks and insurance (2003)
Insurance and Expanding Systemic Risks (2003)
World Forum of Catastrophe Programmes
MEETINGS 3rd International Meeting on Terrorism Risk Insurance, 2014
1st International Meeting on Terrorism Risk Insurance, 2010
Conference on Catastrophic Risks and Insurance, 2004
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