9/11: Twenty-Five Years of Terrorism Risk Evolution - Lessons for the Next Generation of Underwriters
The LMA invites insurance professionals to 9/11: Twenty-Five Years of Terrorism Risk Evolution – Lessons for the Next Generation of Underwriters, a panel discussion hosted by the Terrorism & Political Violence Committee.Twenty-five years after 9/11, the panel will reflect on how terrorism and political violence underwriting has evolved, the lessons learned and the emerging risks that could shape the market’s next chapter.Drawing on decades of market experience, the discussion will also consider what the next generation of underwriters can learn from the market’s response and how those lessons can inform future risk assessment and management.ModeratorSarah Clayton, Chair of the LMA Terrorism and Political Violence Committee, and Underwriting Performance PVT Portfolio Manager, The HartfordSarah has more than 25 years of insurance industry experience, including political violence and terrorism underwriting roles within the Lloyd’s market and broking positions in the United States, Bermuda and London. Her international experience across underwriting and distribution provides a broad perspective on the evolution of the terrorism and political violence market.Sarah was working for Marsh in New York on 11 September 2001, an experience that has shaped her understanding of terrorism risk and its lasting impact on the global insurance industry.SpeakersJulian Barker, Chair of the LMA Political Risks, Credit and Financial Contingencies Committee, and Senior Underwriter - Political Risks and Political Violence, NOA Syndicate 3902 - Ark UnderwritingJulian has more than 30 years of experience in political risks and political violence insurance. He began his career as a political risks broker before moving into underwriting at Ascot, where he was involved in the development of the political violence and terrorism market following 9/11.He subsequently held underwriting roles at ANV and AmTrust before joining NOA Syndicate 3902 in 2020.Mike O'Connor, Co-Founder and Chief Underwriting Officer, Crux UnderwritingMike brings 30 years of experience across the Lloyd’s and London insurance markets. His career has included senior roles across broking and underwriting organisations including Marsh, RK Harrison and Ascot Underwriting, where he served as Executive Underwriter for Political Violence and Political Risk.He has spent much of his career helping brokers and markets navigate complex terrorism and political violence risks, giving him a distinctive perspective on how the class has evolved over the past 25 years.Nicky AblettNicky spent more than 25 years in the Lloyd’s terrorism market, initially with Talbot Underwriting Syndicate 1183 and subsequently with QBE Syndicate 1036.At the time of 9/11, she was a Class Underwriter at Talbot and worked with brokers to develop the existing UK-focused terrorism product for the emerging needs of US customers. She was also involved in expanding terrorism insurance beyond property into areas including marine, cargo, fine art and energy.Nicky was a member of the LMA Terrorism Panel for more than 15 years and served as Chair for three years during a period of significant development in the global terrorism and political violence market.Simon Thurgood, Line Underwriter - Credit and Political Risks Insurance, HiscoxSimon is currently Line Underwriter for Credit and Political Risks Insurance at Hiscox. He previously spent almost two decades at Lancashire, including as Head of War, Terrorism and Political Risks from 2006 to 2024, before becoming Group Head of Specialty.His experience spans a period of considerable change in the terrorism, war and political risk landscape and brings a long-term underwriting perspective to the discussion.
