Pool Re publishes latest monthly threat report
Authored by Pool Re
The latest monthly threat update from Pool Re includes:
- UK: New Definition of Extremism Announced
On 14 March 2024, the UK Government announced a new definition of extremism. The new definition is “narrow and sharper” than its predecessor and will enable the government to publish a list of groups they deem to be extremist. The purpose of the definition is not to criminalise those groups…
- Russia: Highly Likely Crocus City Hall Terrorist Attack Conducted by Islamic State
On 22 March 2024 at approximately 19:40, four individuals entered the Crocus City Hall in Krasnogorsk, Moscow, and conducted a Firearms and Fire as a Weapon attack (FaW) […]. On the same day, the Islamic State claimed responsibility for the attack via its Amaq news agency…
To view the latest list of threat from Pool Re, 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.