Pool Re publishes Monthly Threat Update for July 2022
Authored by Pool Re
For our July monthly threat update, Professor Andrew Silke has assessed the current threat from eco-terrorism in Great Britain.
Pool Re Solutions analysts examine conviction and sentencing data for terrorism charges in Great Britain, comparing figures between May and June and identifying trends relating to the ideologies of those charged.
Finally, we provide a roundup of significant terrorism-related news across advanced market countries throughout July. This includes the use of a homemade firearm in an assassination in Japan, concerns from MI5 and the FBI regarding lone actor terrorism, and the arrest of a teenager regarding an Islamist plot to target the Isle of White festival.
To view Pool Re’s Monthly Threat Update for July 2022 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.
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