Insurance Sector Preparedness: Insurers Appear Prepared to Recover Critical Operations Following Potential Terrorist Attacks, but Some Issues Warrant Further Review

A letter report issued by the Government Accountability Office with an abstract that begins "The insurance sector is a key part of the U.S. financial sector, particularly following a terrorist attack or other disaster where there has been loss of life and damage to property. To determine the insurance sector's preparedness to protect and recover critical insurance operations, GAO was asked to (1) describe the potential effects of disruptions to the operations of insurers, state insurance regulators, and the National Association of Insurance Commissioners (NAIC); (2) identify actions taken by those organizations to protect and restore their operations; and (3) assess the extent to which regulations require reviews of insurer efforts in these areas.