Pool Re sponsors bursaries for Counterterrorism course at Cranfield University
Authored by Pool Re
We are proud to sponsor five bursaries for Cranfield University’s new Counterterrorism Risk Management and Resilience MSc designed by Professor Andrew Silke.
We work with a number of academic institutions and our sponsored bursaries in partnership Cranfield University is another way in which we proactively strive to improve the response and resilience of the UK to terrorism risk. The new course directly aligns with the three pillars of Pool Re SOLUTIONS; risk awareness, risk modelling and risk management, making Cranfield an important partner in supporting our strategic aims and core values as an organisation.
The university has a longstanding specialisation in areas such as security and defence and the course addresses a plethora of subjects tailored for those interested in developing a career focusing on protective security against terrorism. Students working in risk management and risk mitigation sectors can equip themselves with the necessary tools and expertise to understand, analyse, prevent and mitigate the threats posed by terrorism.
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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