Advertise here, Reinsurance News

Menu

Reinsurance News

Pool Re hopeful to include terror-related cyber for property cover: CEO, Enoizi

10th March 2017 - Author: Luke Gallin

Pool Re, the UK government and industry backed terrorism reinsurance scheme, is planning to extend its coverage to include cyber attacks on property, says the entities Chief Executive Officer (CEO), Julian Enoizi.

Speaking to Reuters, Enoizi said “Insurance is there for the unimaginable – we’re here to insure the unforeseen,” and revealed that Pool Re has been in discussion with the UK government and the industry in order to develop and add cyber to its coverage offering within the next few months.

The majority of cyber policies available relate to data loss and not the actual attacks on property, and Pool Re sees this “as a gap in cover,” said Enoizi.

In recent times cyber attacks on property have taken place in numerous parts of the world, and Pool Re feels that it needs to be prepared for such an event.

Owing to its focus on terrorism, any cover provided by Pool Re would be limited to terror-related cyber attacks, should the UK government assess it to be an act of terrorism, Enoizi told Reuters.

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous article:
At least ten insurers signal post-Brexit move to Ireland

Ireland’s head of insurance regulation said ten insurers have set their sights on Ireland as their post-Brexit base with five...

Close