UK terror attack shows worrying sophistication, but risk level unchanged: analysts

UK terror attack shows worrying sophistication, but risk level unchanged: analysts

UK terror attack shows worrying sophistication, but risk level unchanged: analysts

Police investigations into Monday’s terrorist attack in Manchester are revealing a worrying level of sophistication, but analysts see little change in the underlying risk. Following the attack at the Manchester Arena, in which 22 people died and more than 60 were injured, details of a relatively sophisticated attack have emerged. On Tuesday, the UK Home Secretary, Amber Rudd, said it…

UK raises terror threat to critical

UK raises terror threat to critical

UK raises terror threat to critical

The UK government has raised the terror threat level from severe to critical, which is the highest of five possible categories and suggests another terrorist attack is expected imminently. The last time the threat level was critical was in 2007, after a terrorist attack at Glasgow airport. The change in the threat level came 24 hours after Monday night’s devastating…

Mass casualties from suspected terror attack in Manchester

Mass casualties from suspected terror attack in Manchester

Mass casualties from suspected terror attack in Manchester

At least 22 people were killed in a suspected terrorist attack in Manchester, England, last night. The explosion, which injured 59 people, targeted a concert by US singer Ariana Grande at the Manchester Arena. Many children are believed to have been killed. No terrorist group has yet claimed responsibility, but police and the government said they are working on that…

Pool Re remains hopeful of offering cyberterror cover

Pool Re remains hopeful of offering cyberterror cover

Pool Re remains hopeful of offering cyberterror cover

UK’s Pool Re remains hopeful that it will be able to extend cover to include cyberterrorism, but delays in obtaining government consent mean this is now not likely to happen until next year. Pool Re has been in talks with the UK’s HM Treasury to extend the terrorism cover it provides member insurance companies to include cyber. The reinsurance facility,…

AGCS appoints energy underwriter in London

AGCS appoints energy underwriter in London

AGCS appoints energy underwriter in London

Allianz Global Corporate & Specialty (AGCS) has appointed Zoe Massie as offshore energy underwriter. Working in the energy team in London, Ms Massie will report to Tracey Hunt, AGCS regional head of energy, London. Ms Massie joins AGCS from Talbot Underwriting in London, where she was an underwriter offering bespoke insurance and reinsurance coverages and policies for oil and gas…

When people are in the firing line

When people are in the firing line

When people are in the firing line

Jonathan Gregory, global head of kidnap and ransom at AIG, explains why a changing terrorism threat landscape requires businesses to rethink their approach to risk and insurance. The Westminster attack in London on 22 March 2017 is indicative of the current terrorism threat in Organisation for Economic Co-operation and Development (OECD) countries. In an era where complex plots involving several…

XL Catlin hikes available terrorism insurance limits in US

XL Catlin hikes available terrorism insurance limits in US

XL Catlin hikes available terrorism insurance limits in US

XL Catlin has raised its available terrorism insurance limits by 25%, to $250m from $200m in response to calls from clients for higher levels of coverage. XL Catlin’s standalone terrorism insurance policy helps US businesses plug potential insurance coverage gaps in the federal Terrorism Risk Insurance Program Reauthorization Act (TRIPRA). The product includes coverage for direct physical loss or damage…

Recent European terror attacks don’t signal increased risk, say analysts

Recent European terror attacks don’t signal increased risk, say analysts

Recent European terror attacks don’t signal increased risk, say analysts

Despite recent attacks in the UK, Sweden and Germany, terrorism risk is not increasing in Europe, according to political risk analysts. However, preventing attacks in crowded public places, especially those that use everyday items like vehicles and kitchen knives, will be a challenge for governments and business alike, they say. On Tuesday, a suspected terrorist bomb attack against the Borussia…

Terrorism and political violence at four year high warns Aon

Terrorism and political violence at four year high warns Aon

Terrorism and political violence at four year high warns Aon

Worldwide terrorism and political violence is at its highest level since 2013 as global terror attacks increased 14% last year, including a 174% rise in western countries, according to Aon. However, Aon’s newly released 2017 risk maps for political risk, terrorism and political violence paint a slightly more positive picture when it comes to political risk. For the first time…

Coface sees global business confidence growing but political risk widespread

Coface sees global business confidence growing but political risk widespread

Coface sees global business confidence growing but political risk widespread

Despite persistent political risk, business confidence is reported to be growing in the advanced economies, and financial markets are buoyant. This, combined with economic recovery in the emerging countries, has led Coface to upgrade its global growth forecast to +2.8% and that of global trade to +2.4%. Coface said the rise in business confidence is perceptible but is not yet…

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