Search
 

Can we put a price on terror?

As the threat grows, how can insurers manage the risks?

By Patricia L. Harman | Updated on March 01, 2017

The economic impact of terrorism on the global economy costs tens of billions of dollars. Forbes pegged the impact at $90 billion and rising in November 2016. The Institute of Economics and Peace (IEP) has identified over 150,000 terrorist events in its Global Terrorism Index (GTI), and finds that while the number of attacks are dropping in some countries, they are increasing at alarming numbers in others.

As terror groups like ISIL change their tactics, the number of lone terror attacks has surged to its highest number ever. According to the IEP GTI, 98 percent of the terror-related deaths in the U.S. since 2008 have been carried out by individuals acting on their own. Fortunately, there are several similarities and statistical patterns to individual terrorist attacks, which provide some insight into creating effective counterterrorism operations.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Patricia L. Harman

Patricia L. Harman

Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to PropertyCasualty360.com, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at [email protected]

More from this author

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.