Insurers Scrutinize Nanotechnology

Insurance companies are increasingly concerned about the risks of nanotechnology, according to the article. "Nanotechnology is a big problem because the technology is moving much faster, as we all know, than information on health and environmental safety," says Robert Blaunstein of Nanotechnology Risk Management, a firm that advises insurers and companies on how to manage the risks of nanotechnology. Despite hundreds of products claiming to contain nanomaterials already on the shelves, risk research is underfunded and the risks of nanotechnology are poorly understood. Lloyd's, a United Kingdom insurance firm, has listed nanotechnology at the top of its "emerging risks" list. It, along with Swiss Re, one of the world's largest reinsurance firms, are both recommending a precautionary approach to manufacturers and insurers. Blaunstein adds, "...if [insurers] learn more about it, learn how to manage it, I think clearly they would be in a better position to provide insurance." The article can be viewed online at the link below.