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Run Time: 12:35
9/11 and Terrorism Risk 10 Years Later
The Sept. 11, 2001, terrorist attacks in the United States forever changed how the insurance industry views terrorism risk. For property and casualty insurers and reinsurers the impact from 9/11 was substantial, amounting to insured losses of some $32.5 billion in today’s dollars. As we approach the 10 year anniversary of the 9/11 attacks, Robert Hartwig, president of the Insurance Information Institute, sat down with Insurance Journal to talk about terrorism risk today, why the 9/11 event changed the way the industry views risk, why it’s important for the federal government to retain its role in covering terrorism risk, and how terrorism risk is changing today.