As recent world events highlight, terrorism risk appears to be changing. Small groups and "lone wolf" terrorists are now a growing concern.
Companies and insurance clients may be questioning whether they are adequately insured for business interruption and other property losses.
|Terrorism risk insurance
Prior to Sept. 11, 2001, when the World Trade Center and the Pentagon were attacked by terrorists, insurers provided terrorism coverage to their commercial insurance customers essentially free of charge because the chance of property damage from terrorist acts was considered remote, according to the Insurance Information Institute. After September 11, insurers began to reassess the risk.
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Jayleen R. Heft
Jayleen Heft is the digital content editor for PropertyCasualty360.com. Contact her at [email protected].
