As recent world events highlight, terrorism risk appears to bechanging. Small groups and "lone wolf" terrorists are now a growingconcern.
Companies and insurance clients may be questioning whether theyare adequately insured for business interruption and other propertylosses.
Terrorism risk insurance
Prior to Sept. 11, 2001, when the World Trade Center and thePentagon were attacked by terrorists, insurers provided terrorismcoverage to their commercial insurance customers essentially freeof charge because the chance of property damage from terrorist actswas considered remote, according to the Insurance Information Institute. AfterSeptember 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].
