Pool Re Terrorism Threat Update: July 2021

Pool-Re-Monthly-Threat-Update-July-2021

Authored by Pool Re

There were no significant terrorist attacks or plots in the UK, Western Europe or North America in July 2021. However, the US and allied NATO forces began their withdrawal from Afghanistan, which is highly likely to lead to a resurgence in Al-Qaeda (AQ) operations in the country. This is likely to pose an increased threat to Western countries in future.

The Home Office also proscribed far-right extremist group ‘the Base’. The Base was the third far-right group proscribed by the British Government in the last 12 months and is the fifth right-wing extremist group added to the list of proscribed organisations. This does not indicate an increased threat from the Base. To date, there have been no arrests or plots by Base members in the UK.

Director General of MI5, Ken McCallum, also highlighted the growing threat from hostile state actors, which he described as becoming as serious as the terrorist threat. McCallum highlighted that British universities and research centres are particularly vulnerable to theft of intellectual property or sabotage. Finally, assailants attacked vaccine centres in France. A centre near Grenoble was flooded and vandalised and another near Biarritz was damaged in an arson attack. Due to the spread of misinformation and conspiracy theories surrounding the coronavirus pandemic, vaccine centres and other healthcare facilities may be targeted in further attacks, although such attacks are may not be treated as terrorist in nature.

To read the full Monthly Threat Update for July 2021 from Pool Re, CLICK HERE

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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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