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| Author: | Ericson, R.V. Doyle, A. |
| Title: | Catastrophe risk, insurance and terrorism |
| Journal: | Economy and Society
2004 : MAY, VOL. 33:2, p. 135-173 |
| Index terms: | Government Insurance Risk Terrorism Uncertainty USA |
| Language: | eng |
| Abstract: | This article empirically investigates how the terrorist activity of September 11, 2001, was addressed by the insurance industry and government in the USA. It is shown that the insurance system worked reasonably well in compensating losses suffered, albeit with various tribulations. It also demonstrates that the insurance industry, along with government as the ultimate risk manager, imaginatively reconfigurated markets to continue terrorism insurance coverage in many contexts. |
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