Beginning with the evolution of Pool Re, Julian will examine how modernisation initiatives are required to meet the evolving threat of terrorism risk. Analysis will be made of possible models Pool Re could adopt going forward and how the future may incorporate minimising potential gaps in coverage and the industry accepting greater risk and transferring it away from the taxpayer as a result.
The modernisation of Pool Re will benefit from international collaboration with other national terrorism insurance pools around the world.
Terrorism (re)insurance should no longer be seen merely within the prism of national concern, but a truly global issue requiring an international response. Pool Re is seeking to pave the way for international collaboration.
Key Learning Objectives:
- The need for greater international collaboration for systemic risks such as terrorism and other potentially catastrophic events.
- Importance of Pool Re promoting (to the extent possible) a move towards a more normalised market
- The history, evolution and development of Pool Re as a model for insuring property against acts of terrorism and a good example of a working PPP.