Posts Tagged ‘terror’

March 21st, 2019

The Transformation of Biological Risks: Deliberate Attacks; Part II

Posted at 1:00 AM ET

extreme-weather-2In contrast to other types of terrorist attack, which require resources that are difficult to scale and replenish, the technical knowledge required to launch a catastrophic biological attack can be deployed repeatedly once it is mastered. This potential to “reload” creates the potential for successive high-impact attacks. According to one expert, this means that the national security vulnerabilities revealed by the terrorist attacks of September 11, 2001 in the United States were smaller than those revealed by the series of “anthrax letters” that killed five people in the weeks that followed. (1)  In June 2018, German police intercepted a potential biological attack when an arrest led to the discovery of 84 milligrams of the poison ricin. (2)

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March 20th, 2019

The Transformation of Biological Risks: Deliberate Attacks; Part I

Posted at 1:00 AM ET

extreme-weather-2Received wisdom is that biological agents are an unattractive weapon, in part because of the perceived risks involved in their production, and also because of the difficulty of targeting particular groups or populations. But this is not an area for complacency. A report commissioned last year by the U.S. Department of Defense highlights the “almost limitless list of malicious activities that could potentially be pursued with biology” and draws parallels with the importance of advances in physics and chemistry during the Cold War. (1)

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March 19th, 2019

Global Cyber Terrorism Incidents on the Rise

Posted at 1:00 AM ET

cyber-handbook-cover-image-smallThe nature of the terrorism threat facing society has changed considerably in the last 20 years. Previously, governments and (re)insurers structured their mitigation strategies and responses to deal with attacks that were large in scale. Continue reading…

March 13th, 2019

GC Capital Ideas Covers Modeling Developments

Posted at 1:00 AM ET

GC Capital Ideas presents a review of our recent stories covering modeling for various perils.

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February 26th, 2019

GC Securities Acts as Sole Structurer and Placement Agent for First Cat Bond to Transfer Standalone Terrorism Risk to the ILS Market

Posted at 1:23 PM ET

GC Securities*, a division of MMC Securities LLC, a US registered broker-dealer and member FINRA/NFA/SIPC, today announced the placement of GBP 75,000,000 Series 2019 Principal At-Risk Variable Rate Notes issued through Baltic PCC Limited, a protected cell company domiciled in the United Kingdom, on behalf of Pool Re.

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November 28th, 2018

Terrorism: Reinsurance Role in Mitigating the Expanding Peril

Posted at 10:30 AM ET

terrorism_121x120More than ever before, reinsurance brokers and underwriters must use their expertise and solutions to keep insurers and citizens adequately protected. With the peril mutating rapidly, the entire insurance value chain is being challenged – by new types of threats, new modes of attack and the terrorists’ deployment of any violent and disruptive means to reach their desired end-state. The (re)insurance industry must remain in tune with these developments; it must gain insights from academia and observers on how the peril is changing, keep alert to new products in the market, unlock new sources of capacity and help clients understand their portfolios more readily so they remain relevant to their consumer base.

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November 26th, 2018

Terrorism: The Need for Expanded Capacity

Posted at 11:00 AM ET

terrorism_121x120Terrorists are increasingly able to modify, adapt and reinvent their tactics and quickly spread their methodologies to their worldwide support base. Economically, the effect of this change across the globe has been significant. Tourism, trade and investments are examples of areas affected as countries grapple with terrorist actions, both direct and indirect. According to the Institute for Economics and Peace, although the peak of global economic impact from terror events was reached in 2014, it remains at historically high levels.

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November 6th, 2018

Evolving Terror Threats - Innovation Needed to Meet Changing Demands

Posted at 1:00 AM ET

New modes of attack are causing a shift from large terrorist events aimed at property destruction to less sophisticated attacks causing mass casualties and fear. With global commerce, tourism and financial markets impacted, demand is growing for modeling, capacity and protection-gap solutions to increase resiliency against such attacks.

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October 25th, 2018

Escalating Threat of Cyber Terrorism

Posted at 2:00 AM ET

The WannaCry and NotPetya cyber-attacks illustrated the magnitude of the damage that cyber-attacks can cause. These two attacks affected organizations in more than 150 countries, prompted business interruption and other losses estimated at well over USD 300 million by some companies, brought reputational damage and resulted in loss of customer data.

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