The WCIRB has released the Workers’ Compensation California Terrorism Risk Assessment study that was developed in partnership with Risk Management Solutions, Inc. (RMS), a leading provider of catastrophe modeling analytics.
The study is intended to estimate potential California workers’ compensation losses arising from certified terrorist acts that would be retained by insurers under the U.S. Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) for calendar year 2019. RMS quantified total workers’ compensation losses using an analysis of exposure data from member insurers of the WCIRB. The study is based on data provided by the WCIRB and compiled using RMS terrorism exposure assessment models. The WCIRB portfolio contains the policy and exposure data for $544 billion of business payroll insured by members of the WCIRB.
Highlights of the analysis include: