The Geo journey has begun.
An exciting future lies ahead as our Towergate businesses move over to Geo. From 1 February 2018, our personal lines business joins Geo Specialty in operating under the Geo brand. The move marks the next step in a programme of change as we transform into an agile MGA structured for long term success in an evolving insurance market.
Our commercial businesses will soon also move over to Geo, completing the operational phase of the transition. But that’s by no means the end of it. We’re on a journey to make a difference. To carriers. To brokers. To the industry as a whole. Geo is the start of that journey.
We look forward to sharing it with you.
The continued threat of 'the ISIS files'
As we herald the fall of ISIS in Iraq and Syria, we must be aware that the threat still prevails; this was highlighted in the Sunday Times article yesterday that described the planned attacks across the EU and the UK designed to bring the economy to its knees.
Whilst the physical stronghold of the caliphate has been dismantled the ideology continues through online radical propaganda and enduring sentiment for the ideals that Daesh promised. The recent story of the Jihadi bride Shamima Begum sheds light on the emerging issues of the human and ideological residue left behind after the collapse of a state, albeit one never recognised in International law.
Whilst we can, for the moment, rest easy that there is no longer a fertile resting place for a community of fundamentalists that ISIS offered, we still have to be vigilant for the long tail Ideology that they have left in their wake.
Conservative estimates put the number of “returning Jihadists” at 20,000 across Europe, of which the UK could account for up to 2,000 individuals trying to return either through well-established trafficking routes, or legally via their European or UK passports.
To think that all of these defeated ISIS fighters and families will easily give up their Ideals and world view is to have learnt nothing from history or the way that their particular brand of Islamic fundamentalism is spread through communities, in particular influencing the disenfranchised young working class. Their preferred method of attack is more likely to be a lone wolf style knife or vehicle attack, as we saw multiple times in 2017, than a bomb, which is harder for our Counter Terrorism divisions to trace and stop, but the threat to commerce remains.
There is an ever-increasing role for both the Insurance broker and Insurer to ensure that your clients understand what cover is valuable for both the short time financial consequences after an attack whilst a business gets back on its feet, but also the longer-term requirement to bring trading/residency back to previous levels
Geo Specialty continues to offer market leading Terrorism cover in the UK and internationally, for more information get in touch with Marcus Meredith on 07990 511 995 or CLICK HERE, leave a message and youTalk-insurance will pass your enquiry on.
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