Pool Re CEO Julian Enoizi comments on the Vienna and Paris attacks

Pool-Re-CEO-Julian-Enoizi

We are deeply saddened to hear of yet another attack in Europe, our hearts go out to the victims and their families. We stand by the side of our friends and colleagues who live and work in France and Austria, and extend our condolences to all the people affected by last night’s terror attack in Vienna, and recently in Paris and Nice.

No words can express the shock and horror we feel about these attacks – whatever our differences, we must be united against terrorism and those who attempt to take away our lives and our freedom.

Julian Enoizi CEO

Authored by Pool Re

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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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