Pool Re completes £2.48bn retrocession programme led by Munich Re

Pool Re completes £2.48bn retrocession programme led by Munich Re

Pool Re completes £2.48bn retrocession programme led by Munich Re

Pool Re has completed a £2.48bn three-year terrorism retrocession programme with 56 international reinsurers led by Munich Re. Hannover Re and Fidelis are also among those providing significant capacity. Reflecting insurance cover offered by Pool Re through its member insurers, the programme covers property damage arising from nuclear, biological, chemical, and radiological attacks, cyber-triggered terrorist losses and conventional terrorist acts.…

Australia renews retrocession programme for terrorism insurance scheme

Australia renews retrocession programme for terrorism insurance scheme

Australia renews retrocession programme for terrorism insurance scheme

Australia’s terrorism insurance scheme has renewed its $3.475bn retrocession reinsurance programme for the 2021 calendar year. The scheme is administered by the Australian Reinsurance Pool Corporation (ARPC), and the retrocession programme and ARPC net assets are the first layers of funding for claims in the event of a terrorism incident. The 2021 placement of $3.475bn of retrocession capacity includes approximately…

Liberty launches new German terrorism cover

Liberty launches new German terrorism cover

Liberty launches new German terrorism cover

Liberty Specialty Markets (LSM) has launched new terrorism insurance cover for SME German corporate buyers. LSM entered the German war and terrorism market in 2018 and has since used standard London market cover for German risks. The new policy is, however, specifically tailored for the German SME sector and compares with standard terrorism cover in the market, known as Allgemeine…

Covid-19 changes terrorism risk, says thinktank in latest index

Covid-19 changes terrorism risk, says thinktank in latest index

Covid-19 changes terrorism risk, says thinktank in latest index

Far-right terrorism has increased 250% in the past five years in Europe and North America, according to thinktank the Institute for Economics and Peace (IEP), which warned that the economic downturn from Covid-19 could lay the foundations for further political instability and violence. Since the start of the pandemic, terrorist incidents and deaths have declined across most of the world,…

Enoizi makes case for expanding Pool Re to cover pandemic risk

Enoizi makes case for expanding Pool Re to cover pandemic risk

Enoizi makes case for expanding Pool Re to cover pandemic risk

CEO Julian Enoizi believes it makes sense for Pool Re to expand its remit and be the vehicle for any state-backed pandemic or wider systemic risk financing solution in the UK, but stressed the decision is ultimately for government and the insurance industry to make. There are currently several initiatives underway in the UK to find a risk transfer solution…

Airmic taking part in Pool Re review

Airmic taking part in Pool Re review

Airmic taking part in Pool Re review

Airmic has told Commercial Risk Europe it will be representing buyer interests during the government review of terrorism backstop and mutual reinsurer Pool Re. A consultation document for the recently announced review is due in late 2020. The review, conducted every five years, will cover the most recent changes implemented by the reinsurer. This includes cover for terrorism non-damage business…

Hannover Re warns of sharp rate increases in 2021

Hannover Re warns of sharp rate increases in 2021

Hannover Re warns of sharp rate increases in 2021

Hannover Re expects widespread price rises in both reinsurance and insurance markets in 2020 as the industry reacts to the coronavirus outbreak, an event it puts on a par with the World Trade Center attacks on 11 September 2001. On Monday, Hannover Re said it expects to see “significant price increases” spanning various lines of property and casualty reinsurance in…

UK government launches Pool Re review

UK government launches Pool Re review

UK government launches Pool Re review

The UK government’s treasury department is undertaking a review of terrorism backstop and mutual reinsurer Pool Re, with a consultation document due in late 2020. The review, conducted every five years, will cover the most recent changes implemented by the reinsurer. This includes cover for terrorism non-damage business interruption, an extension to include physical damage caused by cyberterrorism and changes…

Pool Re hands out inaugural scholarship for MSc in Counterterrorism Risk Management and Resilience

Pool Re hands out inaugural scholarship for MSc in Counterterrorism Risk Management and Resilience

Pool Re hands out inaugural scholarship for MSc in Counterterrorism Risk Management and Resilience

UK terrorism backstop and reinsurer Pool Re has handed out its first scholarship for UK students undertaking the MSc in Counterterrorism, Risk Management and Resilience at Cranfield University, to Mark Susca, head of resilience at Manchester Airport. The scholarship from Pool Re is available for up to five students. The MSc course is designed for professionals focusing on terrorism risk…

Terror threat spreads in 2020 with civil commotion risk rising in advanced economies: Aon

Terror threat spreads in 2020 with civil commotion risk rising in advanced economies: Aon

Terror threat spreads in 2020 with civil commotion risk rising in advanced economies: Aon

More countries face the threat of terrorism in 2020 than last year, with multinationals increasingly at risk from right-wing extremists, finds Aon’s latest terrorism and political violence risk map. The map, produced in partnership with Risk Advisory, also shows that the risk of civil commotion is on the rise in advanced economies and is being exacerbated by Covid-19. Aon’s overall…

1 2 3 25