Check Rearview Mirror On Terrorism Risks
One thing we know about mega-catastrophes is that immediately following a mega-event, there is a major retrenchment in the provision of insurance and reinsurance coverage.
In the United States we have the examples of Hurricanes Andrew and Iniki, the Northridge earthquake, and, of course, the events of Sept. 11. Overseas, we have examples like the United Kingdom, where the market for terrorism coverage evaporated after the 1993 IRA bomb attack in Londons financial district.
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