The 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.
Recently, though, we have seen a spate of smaller, less sophisticated, yet no less appalling acts of terrorism across geographies that involve mass casualties and fear-inducing events. And the type of threat will continue to change as new technologies and opportunities reveal themselves to terrorist organizations – cyber terrorism is an example of a newly developing frontier within the peril.
This Guy Carpenter-authored article appears in the latest edition of the MMC Cyber Risk Handbook, which contains Marsh & McLennan Companies’ perspectives on major developments, specific industry implications, and strategies to increase resilience.