25 Years after 9/11 — Cyber Attack Worry

An analysis by Morningstar DBRS points out the dangers to this country from cyber attacks. A major attack could hit the government’s Terrorism Risk Insurance Act (TRIA) or Terrorism Risk Insurance Program (TRIP), hard.

The terrorist attacks on 9/11 cost insurers $60 billion in 2025 dollars. Morningstar’s report says a lone but massive attack of a shared data infrastructure could cause serious, and expensive, damages across several lines and places.

These are the 9/11 damages by coverage in 2025 dollars and the percentage of all losses:

• 33% Business interruption — $20.1 billion

• 30% Property — $18.1 billion

• 13% Aviation — $7.8 billion

• 12% Other liabilities — $7.2 billion

• 6% Workers' compensation — $3.7 billion

• 3% Life — $1.8 billion

• 3% Event cancelation — $1.8 billion

Source link: PropertyCasualty360.com — https://bit.ly/4xoZL44