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The Actuary The magazine of the Institute & Faculty of Actuaries

Life assurance and avian flu

According to analysis by the Insurance Information Institute, a moderate avian flu outbreak similar to the 1957 and 1968 flu pandemics could significantly affect the US life insurance industry, generating $31bn in additional death claims. A severe avian flu outbreak along the lines of the 1918 pandemic could have a far more serious effect, causing an estimated $133bn in additional death claims. These amounts compare with an estimate of $60bn for losses to US general insurers and their reinsurers arising from hurricane Katrina. Find the study at www.iii.org.