Member Consultation

17 August 2022

Reinsurance Scheme Modernisation Consultation

17 August to 31 October 2022

Earlier this year our Members voted unanimously to approve a number of important resolutions concerning the future of our scheme. A Scope of Works (spanning four years) which comprises various elements agreed with HMT has now commenced. A central pillar to the Scope of Works includes developing a set of proposals that would amend the Pool Re scheme mechanism to a catastrophe treaty arrangement.

This Member consultation signals the start of the process, examining the move to a more contemporary way of providing cover to an insurance market that has changed significantly since our scheme was set up almost three decades ago. Members are invited to share their views on a proposed Treaty Model, bifurcating terrorism between conventional and non-conventional risk, and increased retentions for conventional terrorism, thereby returning risk to the private market, without taking on any additional exposure to CBRN or cyber-triggered terrorism.

Member feedback will be central to ensuring the detailed proposals we will eventually take forward reflect the future needs of the industry, and we would encourage all Members to participate by completing the online questionnaire. A move to a catastrophe treaty would be the most significant change to the scheme mechanism since it was created in 1993, so it is vital that we get this right.

The consultation is open until 31 October 2022 to allow us to collect feedback from Members, capture any issues involved in a change in the scheme and highlight potential alternatives. The process will involve detailed dialogue with key stakeholders throughout and we expect to issue an update to our Members reflecting stakeholders’ comments on our proposals towards the end of the year.

We would strongly encourage Members to complete the questions using this Form as this will ensure the most efficient processing of responses, however, should Members wish to respond by email or in writing, or indeed provide additional comments, then please do so via:

Steve Coates CUO Pool Re [email protected] 

Sarah Moore Head of Commercial and Customer Engagement [email protected] 


Click to read consultation document
Click to complete questionnaire