Analysts Fox-Pitt Kelton (FPK) have estimated losses caused by the terrorist attacks on the World Trade Center in New York could result in the largest insured loss in modern history.
FPK estimated that the losses range between $14bn and $24bn (£9.6bn and £16.5bn) and are likely to reach or exceed losses caused by Hurricane Andrew which stood officially at $16.5bn (£11.3bn).
The group added that demand for insurance was likely to increase and that US commercial primary and reinsurance rates should accelerate.
