Tough lessons.
Lessons learnt from the huge claims generated by a catalogue of catastrophes during the 1990s mean last week's terrorist attacks in the US should not cripple insurers. All insured losses will be met, although the shock waves will be felt across the industry for years to come, says David Fanning.
US insurers have hastened to reassure individuals and businesses thatthey will meet the insured losses arising from last week's terrorist
attacks.
"While singular in its nature," states the Alliance
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