The Aftermath of September 11: The Impact on and Systemic Risk to the Insurance Industry

Before discussing the effects of the attacks of 11 September 2001, we should be aware that the effects on the insurance industry, as serious as they may be, are small compared with the enormous human tragedy and the direct and indirect economic losses suffered by the City of New York. When analysing the effects of the terrible events of September 11, it is useful to make a distinction between direct and indirect effects.