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Authorities have said there is no evidence that the truck attack in New Orleans on New Year’s Day was directed by the Islamic State but the incident – as well as the same-day truck explosion outside a hotel in Las Vegas – drew comments from insurance industry rating agency AM Best.

Last week AM Best said “increasing political and terror risk is an emerging threat to the insurance industry.”

“Events such as the ones being reported on in New Orleans and Las Vegas are extremely difficult to predict – considering that these events are not solely being carried out at ‘trophy’ locations, such as stadiums and concert venues, and are being carried out by individual actors, with or without backing from wider organizations,” said Sridhar Manyem, director, industry research and analytics at AM Best.

“The effects of these incidents can be substantial to insurers and involve payments related to workers’ compensation for injured company employees, event cancellations, business interruption claims due to business closures and other potential liability issues that commercial entities may face related to claims of insufficient security to prevent a terrorist event resulting in injuries and/or casualties,” Manyem added.

An increase in events could lead to more triggered coverage in commercial property terrorism endorsements, terrorism insurance, or active shooter policies. Manyem said demand could rise for solutions to cover the risks as recent events cause risk managers and businesses to look over policy terms and conditions. Standard business policies do not cover losses from terrorism.

Related: New Orleans Attack, Cybertruck Blast Raise US Security Fears

Shamsud-Din Jabbar, the suspect in the New Orleans attack, was killed by at the scene after killing 15 people with his truck after driving into a crowd on Jan 1. An ISIS flag was found in the truck, as well as weapons and a potential improvised explosive device. Jabber has posted videos expressing his support of terrorist groups.

Matthew Alan Livelsberger was killed when his truck exploded at the entrance of Trump Las Vegas hotel. The blast caused minor injuries to surrounding people but no damage to the hotel.

Though no evidence has been discovered that the men received instruction from terrorist groups – or that the two events are connected – officials are worried that the Islamic State will attempt to use the attacks to inspire others, according to FBI information obtained by (paid content).

There are no current advisories on Homeland Security’s National Terrorism Advisory System (NTAS).

Topics Trends AM Best