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November 1st, 2006
As optimistic as researchers may be, growing evidence suggests that nanoparticles - the building blocks of nanotechnology and the tiniest of materials ever engineered and produced - may pose environmental, health and safety risks, which in turn engenders the concern of the insurance and reinsurance industry.
By helping businesses manage the risks associated with product development and deployment, the insurance industry has always been an "enabler" of new technology, an aspect often overlooked by the industry and its detractors. Consequently, if the insurance industry is to support these new nanotechnologies, while not incurring major long-term losses, the industry must be able to assess potential property damage, bodily injury to workers and the public, and the environmental liabilities associated with businesses handling and using nanomaterials.
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