Pool Re SOLUTIONS launches new monthly report
New monthly report highlights concerns over monitoring of ‘subjects of interest’
Pool Re SOLUTIONS, a specialist division of Britain’s leading terrorism reinsurer, has launched its new monthly report designed to improve the awareness of the contemporary and future threat landscape. Providing news and advice on the latest terrorism threats and expert timely updates, the report is part of a suite of tools available to both member insurers and their policyholders.
July’s report highlights the difficulty faced by MI5 and police in effectively managing the over 20,000 ‘former subjects of interest’ (SOIs) in Great Britain. Brought to the fore again by the knife attack in Reading, SOIs are individuals who have come to the attention of authorities, but who are not actively monitored due resourcing constraints and other operational priorities.
The report also notes concerns that COVID19-related restrictions have led to vulnerable individuals becoming reclusive and spending more time online, which has made them more susceptible to being remotely radicalised by extremist organisations.
Recent terrorism-related arrests, trends and notable research also form part of the news round-up in the report.
Steve Coates, Chief Underwriting Officer, said: “We are delighted to add the SOLUTIONS monthly report to the suite of materials that we offer to the terrorism insurance market. It is an invaluable resource for our members and their policyholders who will be able to read timely round-ups of current terrorism concerns and issues, analysis of the threat and expert advice on risk mitigation. We are pleased to launch this new product to complement the other tools and resources that we offer, which include other recent innovations such as an increased discount for using our VSAT tool.”
To download your copy of the report CLICK HERE
Authored by Pool RE
If you would like to talk to Pool Re about the issues raised in their report CLICK HERE, leave a message and youTalk-insurance will pass your enquiry on.
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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