A little-known or remembered fact about the aftermath of the 9/11 terror attacks is that insurance dollars were the first recovery funds to hit the streets in the days following that tragic event. Federal and state funds were weeks in coming and the economy got its first bit of shoring up from business and homeowners (including renters) insurance policies. The insurance industry, in turn, was to be protected from such future events with the passage of the Terrorism Risk Insurance Act (TRIA).

Three years later, in 2004, another crisis caused by a coronavirus—Severe Acute Respiratory Syndrome (SARS)—spread around the globe. Afterward, state legislatures and insurance regulators approved exclusions that precluded insurance coverage for such claims, hastening a movement already underway to exclude infectious diseases from most policies without a specific, and separately purchased, endorsement.

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