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Insurance Implications Of September 11 And Possible Responses, Jeffrey E. Thomas

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September 11 was a "defining moment" for this generation. The graphic images of that day will forever remain seared into people's individual and collective consciousness. Americans responded in many ways, both individually and collectively. The government, with nearly unanimous public support, immediately responded by declaring "war" on terrorism and by adopting measures to provide relief for victims of the attack.

September 11 was also a defining moment for the insurance industry. It was "the largest single insured event in history." Insurance companies are expected to pay some $50 billion to victims of the attack -more than eight times what the …