Pool Re releases 5th annual Threat & Mitigation Report
This fascinating report draws on expertise from Government, academia and Pool Re’s own Risk Awareness team, to expertly examine the current threat of terrorism in the UK.
Ed Butler CBE DSO, Pool Re’s Chief Resilience Officer, opens the report by detailing the current terrorist threat to the UK, the lasting threat from Islamist extremism, the growth of the far-right, and a potential resurgence of violent dissident republicanism. He also describes how businesses can better their resilience to the terrorist perils they face today.
30 years of terrorism in numbers
A comprehensive 30 years of terrorist attack data, harvested from the Global Terrorism Database (GTD) was also reviewed by the Pool Re team. The GTD is the most comprehensive publicly available database on terrorist incidents, compiled by researchers at the University of Maryland. The team examines information regarding attack frequency, offender type, methodology, and targeting. The analysis concludes a number of key findings, in particular that the frequency of attacks in ‘Advanced Market’ countries (those with high levels of insurance penetration) has fallen since 1990, but attacks have increased in lethality.
Exploring the threats
Utilising their in-house expertise and that of external advisors, the report also explores the risks posed by terrorist use of unconventional methodologies, such as drones, and the likelihood of these being used in terrorist attacks. Eden Stewart, Senior Analyst at Pool Re, sheds light on the impact drones could have on businesses, and the measures that could be taken to mitigate against the risks posed.
The report also includes contributions from:
- Conrad Prince, Senior Cyber Security Advisor to Pool Re, and former Director of Operations at GCHQ, discussing how terrorists might employ offensive cyber in their attacks.
- Alexander Babuta, Research Fellow in National Security Studies at the Royal United Services Institute, describing how Artificial Intelligence could be employed by policing and intelligence communities to assist in counter-terrorism investigations.
- Andrew Silke, Professor of Terrorism, Risks and Resilience, providing insight into how terrorists consider the economic impact of attacks when choosing targets - examining the targeting selection of Islamist, far-right, far-left and separatist actors.
- Jerry Smith, Senior Partner at CHC Global and former UN weapons inspector, examining the proliferation of Chemical, Biological, Radiological and Nuclear (CBRN) weaponry and their potential use by terrorist actors.
- Eden Stewart, Senior Analyst Pool Re, revealing how Daesh is likely to shift its strategy and communications following the loss of its territory in Iraq and Syria, and the likely implications for UK security.
To read the full report CLICK HERE
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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