The insurance industry is still struggling with how to best address terrorism risk two decades after the tragic events of September 11, 2001. Right after the attacks, the insurance and reinsurance companies that covered terrorism risk excluded it. Dr. Robert Hartwig, who at the time of the attacks was just a few blocks away working as the chief economist of the Insurance Information Institute, reflected, “If nothing else, the attacks on the World Trade Center and Pentagon were a reminder to the insurance industry that it can be surprised. The events of that day underscored the importance of managing companies conservatively to ensure there are contingencies for large, unexpected claims.” Read more about how 9/11 impacted the insurance industry here.