9/11: Twenty-Five Years of Terrorism Risk Evolution – Lessons for the Next Generation of Underwriters
Audience
The session is open to terrorism and political violence underwriters and professionals working in related underwriting, exposure management and risk roles.
Description
Twenty-five years on from the attacks of 11 September 2001, the terrorism insurance market looks very different...
Join the LMA Terrorism & Political Violence Committee for 9/11: Twenty-Five Years of Terrorism Risk Evolution – Lessons for the Next Generation of Underwriters, a panel discussion exploring how the market has changed since 2001 and the risks that could shape its next chapter.
How 9/11 reshaped the market
9/11 fundamentally reshaped the way terrorism risk is understood, priced and underwritten. It accelerated the development of standalone terrorism products, drove changes in wordings and exclusions and led to the creation and expansion of government-backed schemes including TRIA and Pool Re.
The panel will explore the immediate market response to 9/11, the emergence of terrorism and political violence as a distinct class of business and the challenge of pricing and managing a peril where historical data is limited and losses can be highly concentrated.
The evolution of underwriting and exposure management
Discussion will also consider how terrorism modelling and exposure management have developed, from blast-zone analysis and aggregation management to geospatial analytics, geopolitical intelligence and the growing potential of AI and predictive tools.
Looking ahead
Looking ahead, the panel will examine the risks now occupying terrorism underwriters, including geopolitical instability, the convergence of terrorism and civil unrest, attacks on critical infrastructure, active assailant exposures, cyber-physical threats and nuclear, biological and chemical risks.
The session will conclude by asking a broader question: if 9/11 created the modern terrorism insurance market, what event or emerging risk could define the next 25 years?
Speakers
- Sarah Clayton, Chair of the LMA Terrorism and Political Violence Committee & Underwriting Performance PVT Portfolio Manager, The Hartford
- Further speakers to be announced
Due to restricted numbers, if you register and subsequently are unable to attend, please email jackie.clark@lmalloyds.com.
