Business interruption losses associated with the World Trade Center attack are five percentage points greater than anticipated, a consulting firm said today in New York.
PricewaterhouseCoopers also found in its study that, among the insurers sustaining the largest hits from the attack, their incurred losses had come in 67 percent above initial estimates, based on Thomson Financial Insurance Solutions data.
Business interruption losses have increased from 25 percent to 30 percent of total loss estimates, PwC said. It found that business interruption coverage continues to represent the largest portion of WTC claims, representing approximately 30 percent of the insurance industry‘s total associated losses, up 5 percentage points from PricewaterhouseCoopers‘ initial February 2002 estimate.
