Insurance and Chemical, Biological, Radiological, and Nuclear Risks
A joint report of the Geneva Association and the International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP)
The chemical, biological, radiological, and nuclear (CBRN) risk landscape is changing. Evolving technologies, new malicious actors, and deteriorating global safeguards all contribute to the increasing likelihood and potential impact of CBRN malicious events.
This joint report of the Geneva Association and International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP) assesses recent shifts in the CBRN risk landscape and how existing re/insurance and national pool arrangements can manage these threats.
The report finds evidence of a sizeable protection gap for CBRN risks, leaving individuals, businesses, and governments significantly exposed should a major CBRN incident occur. Proposals to narrow this gap include enhanced modelling, stronger international cooperation between governments, insurers, national pools and international policy organisations, and innovations in public-private partnerships. Initiatives such as these will help strengthen resilience against potential CBRN events
