Pool Re publishes Monthly Threat Update for December 2022
Authored by Pool Re
What is the role of non-state cyber groups in the Russia-Ukraine conflict and the implications of their actions at home and abroad? A report by Conrad Prince CB, Pool Re’s senior cyber terrorism adviser.
Terrorism-related charges and convictions have increased in November 2022, returning to the levels observed in the first quarter of 2022. Pool Re Solutions assesses the latest open source and UK government data to suggest what trends we are likely to see in 2023. Read our analysis below.
We bring you the most up-to-date, significant, terrorism-related news, focussing on advanced market countries.
- The majority of convicted terrorists in Britain are radicalised online, study suggests.
- The number of far-right extremist inmates in Britain rises to highest ever level.
- Lockerbie bombing suspect is remanded in US custody.
- The arrest of 25 individuals accused of plotting to overthrow the German government.
- Islamic State supporters pledge allegiance to new leader.
Conrad Prince is Pool Re’s senior adviser on cyber and terrorism. He is a Distinguished Fellow at the leading defence and security think tank, the Royal United Services Institute, and also advises a range of companies on cyber strategy. He spent most of a thirty year career in public service at GCHQ, the UK’s cyber intelligence and security agency. He was deputy head of the agency for seven years. Following that he was the UK Government’s first Cyber Security Ambassador, helping overseas governments develop their national cyber strategies and capabilities.
To read the latest Monthly Threat Update from Pool Re CLICK HERE
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.