Thursday, November 4, 2010
Today brings yet more headlines underscoring the fact that terrorism risk is a constant and reemerging threat.
An Associated Press report quotes French Interior Ministry officials saying that one of two mail bombs sent from Yemen last week was disarmed just 17 minutes before it was set to explode.
Last Friday two parcel bombs aboard cargo planes en route to the United States were intercepted in England and the United Arab Emirates.
This is the latest reminder that terrorists continue to look for opportunities to target international aviation.
An Insurance Information Institute (I.I.I.) report published earlier this year noted that the cost of terrorism still looms large in United States history.
After nine attack-free years, the $32.5 billion in losses paid out by insurers for the terrorist attack of September 11, 2001, places second in an I.I.I. ranking of the most costly U.S. catastrophes â€“ after just Hurricane Katrina (2005).
Check out the I.I.I. paper for more information on why terrorism risk is likely to remain a serious threat in the decade ahead and why changes to the federal terrorism risk insurance program would have a detrimental impact on the availability and affordability of terrorism insurance.