Our Risk Management Team is here to provide you with a wide range of expertise, tools, and techniques to combat terrorism risk. By reducing the underlying terrorism risk, we can help your business or organisation mitigate and minimise the effects of an attack – if the worst should happen.
Risk Management services
Our team of experts – with decades of experience, either in the police, armed forces or government agencies, work with clients to create innovative and bespoke solutions that are appropriate to their business and how they operate.
We believe additional focus on terrorism risk management will not only reduce the underlying risk to businesses and organisations such as yours, it will also help to mitigate and reduce the effects of an attack on the wider population and economy.
Helping you understand the risk
Whether it's simply understanding the current state of your preparedness, to having assurance that you have the necessary data to inform your insurance programme, we're here to ensure you and your business have the knowledge and understanding you need to address the rapidly and constantly evolving threat by:
- Providing you with coordinated and effective risk management advice regarding the evolving nature of the threat, and offering bespoke solutions which can be adapted according to your business
- Helping you identify the impact a terrorist event could have on your business, employees and customers. This is vital if you are to apply appropriate and effective risk controls to help prevent or reduce the impact
- Supplying scaleable and modular support, designed to provide you with the relevant information and data required to make informed decisions about how best to manage the terrorism risk to your business or organisation
- Equipping you with an extensive range of terrorism risk management resources and insights. In particular, many of our resources are produced in conjunction with a range of specialised partnerships, including Government agencies, academia, risk professionals and the insurance industry
Risk Management Approach
Our Risk Management approach helps you answer these 4 fundamental questions about protecting your business from the terrorism threat.
Helping you manage the risks
The Risk Management Team's core activities build on the platform of our unique tools, training and advice, provides you with:
- Risk mitigation tools, such as the Vulnerability Self-Assessment Tool (VSAT). Available for all Members and their policyholders
- The scope to commission specific bespoke support for your business or organisation which may include: risk assessments, scenario planning and critical training
- Practical training for Members and Policyholders. By collaborating with academia and industry specialists we are creating a new generation of risk engineers and claims handlers. Our ambition is to improve national terrorism risk literacy, and integrate terrorism within broader property risk management practices
- Timely and regular information such as:
– Educational material around emerging issues or new aspects of risk
– Up-to-date government advice and guidance
– Access to resources such as breakfast briefings, blogs, webinars, seminars, and the website
Risk Management Case Studies
Situation: A large retail business wished to understand it’s current state of preparedness to mitigate the terrorism threat to its business operations in order to identify vulnerabilities in its governance structures as well as across its portfolio.
Solution: The client undertook an initial benchmarking exercise using Pool Re Solutions’ Vulnerability Self-Assessment Tool (VSAT) to assess how well it matched against recognised best practice for a number of specific categories including Physical Security, Personnel Security, IT, Corporate Profile and Processes and in-place emergency plans and procedures. VSAT produced a report with an assessment of the risk rating of the business as well as links to specific advice. In addition, Pool Re Solutions engaged with the client in a workshop to provide additional detailed advice as well as help design with the client a prioritised risk improvement plan.
Benefits: The client’s Board were able to identify where vulnerabilities existed and received advice on how to mitigate the issues. In addition the bespoke risk improvement plan enabled them to prioritise and resource activities against their budget and in line with their risk appetite.
Result: A clear and concise report providing analysis of how their business was meeting the threat of terrorism and a clear and articulate plan, based on best practice advice, that was resourced appropriately.
Situation: A large infrastructure project wanted to assurance that the security design and governance procedures it planned to introduce were appropriate to the terrorism threat facing the project during its construction and once in operation.
Solution: Pool Re Solutions worked with the client through a series of interviews to identify the current plans and proposals as well as the planned operating strategy. Utilizing our consultants’ expertise, many of whom have decades of experience working in counter-terrorism, Pool Re were able to identify a series of likely and most dangerous scenarios that were appropriate to the planned activities of the project. The loss scenarios were then discussed in a workshop comprising our consultants and key stakeholders from across the client organisation as well as representatives from the insurance sector.
Benefits: The client was given a set of realistic loss scenarios from which it could focus its finite resources on appropriate planning as well as being able to budget in line with risk appetite on a prioritised set of mitigation strategies.
Results: The Board was assured that the correct attention was being focused on those loss scenarios that were most relevant as well as being agile enough to manage the worst case scenarios. In addition, the risk management team were able to engage with insurance stakeholders to ensure that the proposed insurance programme adequately covered the sort of events that might occur.
Situation: The client was a strategic transport hub. The risk management team were seeking assurance that the correct assumptions had been used to inform the structuring of the insurance programme and to assess whether there were gaps in the programme not covering emerging risks.
Solution: Pool Re consultants reviewed the clients current contingency plans and procedures against a set of bespoke loss scenarios that were developed to reflect an accurate assessment of the threat facing the business. From this each loss scenario was quantified to identify the levels of impact that could be caused, the probable and maximum levels of loss that could be incurred, the likely additional costs that might be incurred whilst recovering and an assessment of the duration of the recovery. In addition an assessment was undertaken to review the current preparedness and resilience of the business in order to see if improvements could be made that would reduce the likelihood, impact and duration of an event.
Benefits: By undertaking the review, the client was able to ensure that its security arrangements, contingency plans and procedures matched the current and emerging threats. Additionally, the Board were able to review the current insurance programme after it was confirmed that the correct assumptions were made.
Results: The Board were able to take strategic decisions to adjust the programme based on a thorough understanding of the likelihood and potential impact of a set of appropriate loss scenarios facing their business and that matched their risk appetite and strategic plans.
The private sector has to play a bigger role than ever as part of a whole society effort to counter today’s terrorism threat.
Sir Mark Rowley, ex-Assistant Commissioner for Specialist Operations
Read our latest Risk Management resources