Terrorism Risk In Light Of Bin Laden Death

Though Bin Laden is dead, al-Qa’ida is not. The terrorists almost certainly will attempt to avenge him, and we must – and will – remain vigilant and resolute.†

This excerpt from a memo to employees by Leon Panetta, director of the Central Intelligence Agency (CIA), underscores the point that while the killing of Osama Bin Laden is a positive development in the war on terrorism, the threat continues to evolve.

Insurers, among other industries, must remain alert to the possibility of reprisal attacks.

A recently updated Insurance Information Institute (I.I.I.) paper explains why terrorism risk remains extremely problematic from the insurance standpoint.

It also discusses the importance of the terrorism risk insurance program – a public-private risk sharing partnership that since 2002 has allowed the federal government and the insurance industry to share losses in the event of a major terrorist attack.

To learn more about the insurance implications of Bin Laden’s death, check out the video below featuring I.I.I. president Dr. Robert Hartwig speaking from Ground Zero.

An article  by PC360.com has further insurance market reaction to Bin Laden’s death.

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