Pool Re publishes Terrorism Threat Update for May 2022
Authored by Pool Re
This month, Pool Re Solutions provides an insight into the concern about released terrorist prisoners and the threat they may pose in the UK.
We also examine conviction and sentencing data for terrorism charges in Great Britain, comparing figures between March and April.
Finally, we provide a roundup of significant terrorism-related events across advanced market countries. This includes a warning from police about the possible threat to the Her Majesty’s Jubilee celebrations, the arrest of a rightwing teenager in Germany and the continued use of social media by extremists and violent actors to plan and execute attacks.
To upload the Monthly Threat Update for May 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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