Insurers Assess Possible Government Role for War, Terror Cover

Monday, October 1st, 2001 Catastrophe

In the wake of the terrorist attacks on the U.S. the world‘s insurers are reassessing government‘s potential role as the reinsurer of last resort, and as an essential partner in handling war and terrorist risks. National governments have already stepped in to make sure that the airline industry can continue flying by agreeing to loan guarantees and in some cases direct payment of insurance premiums, which have risen by ten times or more following the September 11 attacks. That‘s only part of an overall solution, however, as the new understanding of the risks the world has to face from war and terrorism begins to sink in. Industry leaders have indicated that the perils are simply too great for insurers to continue to face them alone.

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http://www.insurancejournal.com/html/ijweb/breakingnews/international/in1001/in1001013.htm

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