Coverages aimed at protecting citizens in time of terrorism and war were another common theme for unique risks, with examples spanning several decades.

James Griffith, president of Princeton Risk Managers, offered his recollection from the Vietnam era–at the same time revealing a hands-on approach to risk evaluation.

"In my early days in the business, we insured the firm which was able to correct a jamming problem in the newly introduced M16 rifle for the U.S. military back in the mid-1960s," he wrote in an e-mail. "On my visit to their design facility, they demonstrated how they accomplished this on one of their test weapons."

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