Because terrorist acts have unique characteristics that are unlike natural disasters, traditional loss-prevention tools often fall short when preparing for this risk, according to the Insurance Institute for Business & Home Safety (IBHS).
The 10-year anniversary of the Sept. 11, 2001 attacks presents an opportunity for risk managers to consider what they can do to reduce the physical, economic and psychological damage that terrorists seek to inflict.
“The hybrid approach of combining structural mitigation and business continuity is something we are seeing a lot more of across the board,” Debra Ballen, general counsel and senior vice president of public policy for IBHS, tells NU.
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