TY  - JOUR
AB  - The US insurance industry has long faced the spectrum of large unexpected losses from natural catastrophes such as hurricanes and earthquakes. However, the September 11, 2001 terrorist attack clearly demonstrated a new form of catastrophic risk of man‐made origin. The damages in property and life are now well known as estimates of insured losses deriving from this event range from $40 to $54 billion. The 9/11 terrorist attacks renewed the capacity problem faced the insurance industry in the underwriting of large catastrophic risk. In that regard, this paper explores the feasibility of capital market alternatives to the conventional insurance mechanism, and analyses whether the capital market could provide extra capacity to absorb terrorism risk.
VL  - 5
IS  - 4
SN  - 1526-5943
DO  - 10.1108/eb023012
UR  - https://doi.org/10.1108/eb023012
AU  - BOURIAUX SYLVIE
AU  - SCOTT WILLIAM L.
PY  - 2004
Y1  - 2004/01/01
TI  - Capital market solutions to terrorism risk coverage: a feasibility study
T2  - The Journal of Risk Finance
PB  - Emerald Group Publishing Limited
SP  - 34
EP  - 44
Y2  - 2024/04/25
ER  -