The last major global MTE came in the aftermath of the US terrorist attacks of 11 September 2001, after which premium rates across all classes of insurance business rose by around 40%. Lloyd 's of London has issued a six - point plan for companies to prepare for a cataclysmic event that could test the insurance industry 's resilience . Following a test of the UK insurance industry 's ability to deal with multiple market - turning events last year , Lloyd 's has said its members and shareholders should have measures in place to deal with a real global catastrophe , such as the 9/11 terror attacks , in an orderly manner . Jon Hancock , Lloyd 's director of performance management , said the company must " make sure the Lloyd 's market is in a position to respond swiftly and decisively to any future market - turning event " .
Lloyd 's of London has issued a six - point plan for companies to prepare for a cataclysmic event that could test the insurance industry 's resilience . Following a test of the UK insurance industry 's ability to deal with multiple market - turning events last year , Lloyd 's has said its members and shareholders should have measures in place to deal with a real global catastrophe , such as the 9/11 terror attacks , in an orderly manner . Jon Hancock , Lloyd 's director of performance management , said the company must " make sure the Lloyd 's market is in a position to respond swiftly and decisively to any future market - turning event " .