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Terrorism

Terrorism is a controversial term with varied definitions. One definition means a violent action targeting civilians exclusively. Another definition is the use or threatened use of violence for the purpose of creating fear in order to achieve a political, religious, or ideological goal. Under the second definition, the targets of terrorist acts can be anyone, including civilians, government officials, military personnel, or people serving the interests of governments.

Terrorism Insurance

Terrorism insurance is insurance purchased by property owners to cover their potential losses and liabilities that might occur due to terrorist activities.
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 endorsements to provide coverage.
From Wikipedia

September 11 attacks

The September 11 attacks (also referred to as September 11 , September 11th or 9/11 ) were a series of four coordinated suicide attacks upon the United States in New York City and the Washington, DC areas on September 11, 2001. On that Tuesday morning, 19 terrorists from the Islamist militant group Al-Qaeda hijacked four passenger jets. The hijackers intentionally crashed two planes, American Airlines Flight 11 and United Airlines Flight 175 into the Twin Towers of the World Trade Center in New York City; both towers collapsed within two hours. Hijackers crashed American Airlines Flight 77 into the Pentagon in Arlington, Virginia . The fourth jet, United Airlines Flight 93 , crashed into a field near Shanksville, Pennsylvania after passengers attempted to take control before it could reach the hijackers' intended target in Washington, DC Nearly 3,000 people died in the attacks .
Suspicion quickly fell on al-Qaeda, and in 2004, the group's leader Osama bin Laden , who had initially denied involvement, claimed responsibility for the attacks . Al-Qaeda and bin Laden cited US support of Israel , the presence of US troops in Saudi Arabia , and sanctions against Iraq as motives for the attacks. The United States responded to the attacks by launching the War on Terror and invading Afghanistan to depose the Taliban , which had harbored Al-Qaeda. Many countries strengthened their anti-terrorism legislation and expanded law enforcement powers. In May 2011, after years at large, bin Laden was found and killed .The destruction of the Twin Towers caused serious damage to the economy of Lower Manhattan and had a significant impact on global markets. Cleanup of the World Trade Center site was completed in May 2002, and the Pentagon was repaired within a year. Numerous memorials were constructed, including the National September 11 Memorial & Museum in New York, the Pentagon Memorial , and the Flight 93 National Memorial in Pennsylvania. Adjacent to the National Memorial, the 1,776-foot-tall (541 m) One World Trade Center is expected to be completed in 2013.
From Wikipedia

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