Insurance industry encouraged to focus on terrorism risk

Terrorism Risk Insurance industry

Insurers are encouraged to address this issue as it is producing growing economic losses. Rising economic losses resulting from terrorism risk require the insurance industry’s attention. This, according to the Guy Carpenter & Co LLC reinsurance broker, which recently released a report on the topic. The cost of terrorism is estimated to be in the hundreds of billions of dollars worldwide. For example, from 2004 through 2016, the terrorism risk cost the European Union over $200 billion. Even the United Kingdom alone lost nearly $50 billion to the expenses associated…

Read More

Insurance industry remembers September 11

September 11 insurance industry losses

The terrorist attacks that happened twelve years ago will never be forgotten by individuals or businesses. The horrific and devastating attacks on the United States on September 11, 2001 were far from local events, having caused a ripple felt around the world and that are remembered today, on their anniversary, by everyone from individuals to governments, and to the insurance industry. The terrorist attacks took their toll on our lives, our sense of safety and security, and even on our financial wellbeing. The human impact was, by far, the most…

Read More