Pool Re has launched a new Terrorism Frequency Report, produced by the scheme’s Terrorism Risk and Analysis Centre (TRAC), designed to provide Pool Re Members and stakeholders with a record and analysis of recent terrorist attacks, while underlining the importance of public-private sector partnerships when addressing the risks.
Julian Enoizi, Chief Executive Officer (CEO) of Pool Re, said; “The terrorism risk landscape is changing rapidly. To remain relevant, our Scheme must continue to evolve. This is the latest example of our efforts to do so.
“While reports on individual terrorism events are readily available, expert analysis of the methodologies used and trends within this landscape are scattered and often inaccessible to those outside the security services.
“Our Terrorism Frequency Report aims to provide our Members and stakeholders with up-to-date analysis that can inform their decision-making via an accessible resource detailing the frequency and severity of attacks.
“It also identifies key trends and themes designed to inform and thereby enable the terrorism re/insurance market to assume more risk and, in so doing, remove it from the Government’s balance sheet.”
Key topics and trends discussed in the first Terrorism Frequency Report include: online radicalisation, cyber-attacks, and the implications for UK security and business, the potential for closer collaboration between Al Qaeda and Daesh and how a merger could alter the UK’s threat landscape, whether the use of improvised explosive devices in the Manchester and Parsons Green attacks could herald a step change in the frequency and method of terrorist attacks.
“As we move into 2018, a year that could bring unprecedented levels of terrorism risk to the UK mainland, the effective partnering of Government, the insurance industry and businesses will be critical to the continued resilience of the UK,” said Ed Butler, Head of Risk Analysis, Pool Re.
A link to the full-report can be found here.