New Pool Re report highlights public transport vulnerabilities to terrorism
Pool Re, Britain’s leading terrorism reinsurer, launched the first in a new series of Sector Risk Reports.
Focusing on public transport and facilities, this pertinent initial report Sector Risk Report: Public Transport reveals the sector remains an attractive target for terrorists because of the high concentration of potential victims and the low complexity of planning required to cause mass terror.
Among its key findings, the report notes that due to the reduction in lockdown restrictions, increasing passenger numbers herald the return of crowds and the potential for an attack. Counter-terrorism police have made a number of warnings of the increasing threat of self-radicalisation during lockdown and the return of crowded spaces may present a target which has not been present for over a year.
Additionally, a terrorist attack against the public transport infrastructure could have a short-term impact on local economies and public confidence, which could be particularly damaging as the economy begins to recover post-Covid-19.
As part of its commitment to improve the UK’s resilience to terrorism, Pool Re urged policymakers to consider public awareness campaigns, as well as to review and update contingency plans, to mitigate the evolving risk from terrorist attacks on public transport infrastructure.
Ed Butler, Chief Resilience Officer, said: “Whilst the threat from an attack remains substantial, we know that better understanding leads to better preparation. We believe this report will be of significant value to those who manage or operate in the public transport sector including risk managers, security personnel and those organisations and advisors to them.
“Our SOLUTIONS division is dedicated to helping organisations and businesses reduce vulnerability, risk and susceptibility. Our priority is to increase resistance and resilience to terrorism. We provide organisations the means to support them to identify vulnerabilities and implement mitigation strategies, before, during, and after a crisis, using a bespoke blend of intelligence, tools and techniques.
“These reports provide a detailed picture of the threat and vulnerabilities to a range of sectors, some part of our critical infrastructure such public transport, retail and hospitality, energy, and public services. They examine why and how attacks might be conducted, the potential impact of such attacks, common vulnerabilities and an evaluation of effective risk mitigation measures.”
Moreover, the Protect Duty Consultation (due to close on 2 July 2021) may lead to greater responsibilities being placed on owners and operators as well as those businesses that operate around transport hubs. They may be required to do more to understand and mitigate the threat of terrorism to their operations and businesses, which could raise challenges given that current resilience against terrorism within the sector varies greatly.
To download the report CLICK HERE
Authored by Pool Re
About Pool Re
Pool Re’s purpose is to enable the UK insurance market to offer terrorism cover to any commercial property that requires it. Central to this is the integration of Pool Re’s cover with the underlying property policy which ensures that there is no gap in the cover provided.
Pool Re was designed to insulate the taxpayer from potential financial losses arising from acts of terrorism. It has achieved this effectively, to date paying £635m in respect of 13 claims arising from certified terrorism events in the UK since our establishment. It has never called on the Government’s guarantee.
By providing foundational stability at a reinsurance level, Pool Re has created an environment for the commercial market to re-establish itself, following the market failure in 1992. This stability creates and sustains access, liquidity and confidence to generate the conditions for the private market to gradually write a growing portion of terrorism risk.
Helping UK businesses build resilience against terrorism risk is a priority for Pool Re who have developed SOLUTIONS an in-house centre of excellence created to support Members and policyholders better understand risk awareness, modelling, and management. They have also invested in a range of initiatives with Government security and intelligence agencies to provide tools such as an information sharing platform.
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