Versicherbarkeit von Terrorismusrisiken

After the terrorist attack of September 11 the ongoing discussion about terrorism in the insurance industry focuses especially on the question to what extent terrorism risk is insurable at all. In this context the subsequent analysis of insurability draws the conclusion that from a theory perspective the statement — ?terrorism is not insurable“ — cannot be sustained. Simultaneously this thesis is supported both by insurance practice and also by a comparison of other extreme risks which have a similar risk exposure like the terrorism risk and which equally violate the established limits of insurability.