Business Interruption Insurers Expect 'Ripple Effect' From Terrorist Attack Claims.(Terrorist attacks' impact on insurance industry)(Brief Article)(Statistical Data Included)

National Underwriter Property & Casualty-Risk & Benefits Management, September, 2001 by Sclafane, Susanne

The "ripple effect" of claims related to the recent attacks on the World Trade Center extends well beyond the site of the destroyed buildings, creating far-reaching exposure for some insurers that provide business interruption insurance, according to an industry consultant. The property, business interruption and workers' comp claims for businesses that used to be housed in the towers are the most obvious ones that people think of, said John Dorf, senior manager in the insurance and risk management practice of Ernst & Young in New York.

But those are a subset of a much broader spectrum of potential claims related to the attacks, he explained, mapping out several scenarios for businesses located first within blocks, then within miles, and then states and...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.