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Terrorism Risk Insurance in OECD Countries

image of Terrorism Risk Insurance in OECD Countries

This book presents OECD policy conclusions and leading academic analysis on the financial management of terrorism risk nearly four years after the World Trade Centre attacks. It examines how the insurance market reacted after the 9/11 attacks, financial market solutions for terrorism risk, and possible roles for governments in the coverage of terrorism risk. It includes a table comparing terrorism insurance schemes in various OECD countries as well as an analysis of terrorism coverage in South Africa, Israel, and India.

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Summary of Conclusions and Policy Options

1.1. The changing nature of international terrorism risk, as demonstrated in particular by the September 2001 attacks in the United States, translates into a tremendous and potentially lasting threat against which no country can claim to be protected. It calls for greater co-operation on an international scale. If loss prevention and mitigation perform a crucial function in terrorism risk management strategies, ensuring sustainable financial coverage of the terrorism risk1, if prevention were to fail, is a no less important policy issue to mitigate the potentially devastating impacts of future attacks and to facilitate recovery...

English

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