How 9/11 changed the industry’s view of terrorism risk: RMS


How 9/11 changed the industry’s view of terrorism risk: RMS

Shruti Deshmakh, product manager of global terrorism & human casualty models, RMS

Memories of the World Trade Center attacks and the resulting stories of heroism remain etched in people’s minds. Marking the 20th anniversary of the events, RMS has published a whitepaper addressing how 9/11 changed the insurance industry’s view of terrorism risk.

Since the 9/11 attacks in 2001, a lot has changed for the insurance industry in terms of how the threat landscape is perceived, how the industry has become more resilient to terrorism risk, and how modelling has come to the forefront of terrorism risk management.

Shruti Deshmukh, product manager of global terrorism and human casualty models at RMS, is the author of a blog post which addresses the changing risk landscape and modelling, and accompanies the RMS whitepaper “The Lasting Impacts of 9/11 on the Insurance Industry”.

Speaking to the Re/insurance Lounge, Intelligent Insurer’s digital hub for interviews, debates and panel discussions, Deshmukh said that prior to 9/11, terrorism risk coverage was available to anybody but, at the same time, it was inadequately priced.

RMS, 9/11 Attacks, Terrorism, Risk Management, Casualty, Catastrophe, Insurance, Reinsurance, Shruti Deshmukh, North America

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