IFTRIP, the International Forum for Terrorism Risk (Re)insurance Pools, brings together terrorism reinsurance pools from around the world, providing the international insurance industry an opportunity to learn from one another and respond effectively to the evolving threats posed by terrorism.
Globally, the threat of terrorism is persistent and profound. The prediction, mitigation and management of events caused by terrorism remains a challenge for the insurance market and as long as the threat continues to evolve, so will the industry. In addition to the fluid nature of the peril, the lack of opportunity to efficiently transfer risk means there is a growing emphasis and importance placed on government backed insurance pools and schemes. In order to provide an appropriate response to the threat, the collaboration of global terrorism (re)insurance pools is becoming increasingly more progressive. In recent years, the proactive sharing of knowledge between pools has provided more international scope and scalability. Global companies can continue to confidently function knowing they are supported by schemes that can securely and proficiently help respond to, mitigate, and manage terrorism risk.
Evidence of this growing collaborative network is illustrated in The Terrorism Pool Index. We are pleased to present the report produced in association with Willis Towers Watson Financial Solutions. The Pools Index summarises the function of key terrorism reinsurance pools from across the globe. The report addresses each pool’s threat level, scope of coverage, premium rates, respective definitions of terrorism and other relevant findings. A comparative summary of the report is provided however the full report is also available for download.