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Pool Re, the UK terrorism reinsurer, has launched TERRA (Terrorism Risk and Resilience Assessment) by Pool Re. Organiser say it’s designed to help policyholders assess and manage terrorism risk across their property portfolios.
Combined are protective security guidance, including from the police and the UK official National Protective Security Authority, with Pool Reโs own understanding of the intent and capabilities of UK terrorists. It prioritises sites for self-assessment from a policyholder portfolio based on terrorism threat, assessing each locationโs alignment with mitigation guidance, before giving an overall grade on completion. Included ar weblinks to the sources of best practice, and recommendations for risk management. The level of alignment demonstrated by the assessed properties is evidenced through a downloadable pack at the end of the assessment process, which can then be presented to insurers, giving a clearer understanding of a policyholderโs resilience to terrorism,ย supporting constructive and more informed dialogue when underwriting the policy.
Pool Re CEO Tom Clementi said: โThe terrorist threat in the UK has been elevated for an extended period making it all the more important that policyholders have a clear understanding of their current risk exposure. TERRA by Pool Re is designed to give businesses and insurers greater confidence in the resilience measures being implemented, while supporting a more informed approach to risk management across the market. We believe the platform will raise resilience standards and drive greater recognition of effective risk management within underwriting discussions.โ
Tool
Meanwhile The Roadmap is a new tool from the official police ProtectUK website. Its developers say it’s designed to support all settings, regardless of whether they fall within scope of the Terrorism (Protection of Premises) Act 2025 (Martynโs Law).
Event
Pool Re is due to hold a Market Event in the City of London on November 26.
Background
Dating from the 1990s and the market failure in terrorism insurance due to the IRA bombing campaign on the British mainland, Pool Re provides commercial property reinsurance cover for losses caused by terrorism. This includes material damage, business interruption, nonโdamage business interruption, as well as damage caused by chemical, biological, radiological and nuclear (CBRN) attacks and remote digital interference (โcyberโterrorismโ). Visit https://www.poolre.co.uk/who-we-are/.
