10 Questions
What were the sectors hardest hit by the stock sell-offs?
airline and insurance sectors
Which airlines were the hardest hit?
American Airlines and United Airlines
Why did gold prices leap after the terrorist attacks?
reflecting the uncertainty and flight to safety of nervous investors
What were the fears that caused gas and oil prices to shoot upward?
that oil imports from the Middle East would be curtailed
Why did gold prices and gas/oil prices eventually retreat to their pre-attack levels?
no new attacks occurred and deliveries of crude oil to the U.S. from its usual sources continued unabated
What was the estimated amount of 9/11-related claims that hit the insurance industry?
$40 billion
What legislation was passed as a result of the fallout from the 9/11 attacks on the insurance industry?
Terrorism Risk Insurance Act
Why was the Terrorism Risk Insurance Act necessary?
Premiums were becoming too costly or simply unavailable due to perceptions of increased risk
What did the Terrorism Risk Insurance Act enable insurers to include once again?
terrorism insurance as a part of their coverage
What would be the cost of coverage against terrorism acts without the Terrorism Risk Insurance Act?
too steep for most businesses to purchase
Test your knowledge on the immediate impact of major stock sell-offs on the airline and insurance sectors after the 9/11 terrorist attacks. Explore the effects on American Airlines, United Airlines, gold prices, and more in this quiz.
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