Terrorism insurance is insurance purchased by property owners to cover their potential losses and liabilities that might occur due to terrorist activities. The term terrorism is controversial and has many definitions, none of which are universally accepted. ... One 1988 study by the US Army [1] found that over 100 definitions of the word terrorism have been used. ... There are eleven major multilateral international conventions related to states responsibilities for combating terrorism. ... Counter-terrorism refers to the practices, tactics, and strategies that governments, militaries, and other groups adopt in order to fight terrorism. ... A terrorist organisation is an organisation that engages in terrorist tactics, they are also (perhaps more neutrally) referred to as militant organisations. ... The following is a timeline of acts and failed attempts that can be considered terrorism. ... Nationalist terrorism is a form of terrorism through which participants attempt to form an independent state against what they consider an occupying, imperial, or otherwise illegitimate state. ... Religious terrorists use violence to further what they see as divinely commanded purposes. ... Left-wing terrorism may be defined as violence committed by groups or individuals on the political left in order to achieve a political goal through the creation of fear. ... Right-wing terrorism, or neo-Fascist terrorism, seeks to do away with liberal democratic governments and create fascist states in their place. ... State terrorism is a controversial term that is separate from the more common term state sponsored terrorism. ... Ethnically-motivated terrorism (also Ethnic terrorism or racial terrorism) involves frequent attacks on foreign-born immigrants and ethnic minorities, motivated by racism and xenophobic hatred. ... Narcoterrorism is a term coined by former President Belaunde Terry of Peru in 1983 when describing terrorist-type attacks against his nations anti-narcotics police. ... Domestic terrorism is a phrase used to describe some acts of political violence within a state that are carried out or commissioned by forces inside or originating from that state, as opposed to external attacks. ... The heyday of anarchist terrorism was from the 1870s to the 1920s. ... Political terrorism is a form of terrorism (a tactic of violence that targets civilians) used to influence socio-political events so that gains occur that might not have otherwise happened by peaceful means. ... The term eco-terrorism is a neologism which has been used to describe threats and acts of violence (both against people and against property), sabotage, vandalism, property damage and intimidation committed in the name of environmentalism. ... Aircraft hijacking (also known as Skyjacking) is the take-over of an aircraft, by a person or group, usually armed. ... Jack Ruby murdered the alleged assassin, Lee Harvey Oswald, in a very public manner. ... A car bomb is a bomb that is placed in a car or truck and is intended to be exploded while there. ... A suicide bombing is a bomb attack on people or property, committed by a person who believes the explosion will cause his or her own death in addition to the attacks primary purpose (see suicide, suicide weapons). ... Bioterrorism is terrorism using germ warfare, an intentional human release of a naturally_occurring or human_modified toxin or biological agent. ... Nuclear terrorism can be used to describe any of the following terrorist assaults: Use of nuclear weapons against a civilian target Use of a radiological weapon or dirty bomb against a civilian target An attack against a nuclear power plant Some believe that no such act has ever taken place. ... Cyber-terrorism is terrorism that uses cracking over computer networks and Internet-based attacks in the service of terrorism. ... A terrorist front organization is created to conceal activities or provide logistical or financial support to the illegal activities. ... An independent terrorist actor works outside a command structure, unaccountable to the claimed collective cause of a group. ... Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of potential financial loss. ... The term terrorism is controversial and has many definitions, none of which are universally accepted. ...

It is considered to be a difficult product for insurance companies, as the odds of terrorist attacks are very difficult to predict and the potential liability enormous. For example the September 11, 2001 attacks resulted in an estimated $31.7 billion loss. This combination of uncertainty and potentially huge losses makes the setting of premiums a difficult matter. Most insurance companies therefore exclude terrorism from coverage in Casualty and Property insurance, or else require endorsments to provide coverage. The September 11, 2001 attacks were a series of coordinated attacks carried out in the United States on Tuesday, September 11, 2001. ... This article is actively undergoing a major edit. ... Casualty insurance is a broad category of insurance that includes almost any coverage that is not related to life, health, or property. ... Property insurance provides protection against risks to property, such as fire, theft or weather damage. ...

Netherlands

Insurance payments related to terrorism are restricted to a billion euro per year for all insurance companies together. This regards property insurance, but also life insurance, medical insurance, etc. Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of potential financial loss. ... The term terrorism is controversial and has many definitions, none of which are universally accepted. ...

US

On November 26, 2002 President George W. Bush signed into law the Terrorism Risk Insurance Act (TRIA) which created a federal backstop for insurance claims related to acts of terrorism. The Terrorism Risk Insurance Act is intended as a temporary measure to allow time for the insurance industry to develop their own solutions and products to insure against acts of terrorism. The Act is set to expire December 31, 2005. George Walker Bush (born July 6, 1946) is an American politician and the 43rd and current President of the United States. ... On November 26, 2002 President George W. Bush signed into law the Terrorism Risk Insurance Act (TRIA) which created a federal backstop for insurance claims related to acts of terrorism. ... On November 26, 2002 President George W. Bush signed into law the Terrorism Risk Insurance Act (TRIA) which created a federal backstop for insurance claims related to acts of terrorism. ...

External Links

• Catastrophes from the Insurance Information Institute (Scroll down half way to see a break down of 9/11 losses)