POOL RE SOLUTIONS
EFFECTIVE TERRORISM RISK MANAGEMENT
Our team of experts combine their knowledge and experience with that of Government agencies, academia, risk professionals and the insurance industry to provide leading specialist terrorism risk management support and information accessed via the Solutions Centre.
TERRORISM RISK MANAGEMENT
The terrorism threat landscape is constantly evolving. Terrorist capabilities, intent and methodologies have shifted from bombs to contemporary methods like chemical and biological weapons, drones, cyber, vehicles and knives. This makes terrorism one of the most difficult challenges facing businesses today.
At Pool Re Solutions, we understand that managing multi-faceted and complex risks posed by the threat of terrorism can be a daunting task. Our team of risk management experts provide a wide range of specialist terrorism risk solutions, information, products and services to help you and your business better identify, understand and manage terrorism risks to your people, property and data.
A robust terrorism risk management plan can help with:
Health and Safety
In the event of an incident, any subsequent inquiry or court proceeding will look for evidence the owner or occupier of a premises demonstrated their legal responsibility of a ‘duty of care’ for staff and visitors.
Following an incident, organisations may not be able to return to ‘business as usual’ straight away. Smaller businesses may lack the resources to withstand more than a few days without trade.
Loss of Reputation
The reputational damage of a security breach is something that will concern all senior management – the loss of trust following a failure to protect staff, clients or even data may
prove difficult to recover from.
Lost or destroyed assets may need to be replaced quickly and at great cost. This is in addition to any losses that might be incurred through the suspension of normal business.
RISK MANAGEMENT IN FOUR SIMPLE STEPS
Understand the threat
Understanding the intentions and capabilities of terrorists, what they might do and how they might do it, is central to assessing threat.
Businesses should consider how likely an attack is it to happen and what the effect of this would be on their people and business.
Browse our authoritative and trusted sources of terrorism risk intelligence including current and historic risk reports, terrorism threat analysis, expert commentary and thought leadership.
Establish your vulnerabilities
A business’s priorities for protection fall under three categories: People, Physical assets, and Systems. Business’ should ask ‘what if?’ questions:
- What if my business is attacked or close to an attack?
- What if there are casualties?
- What if I cannot access my property afterwards for days or weeks?
Undertaking a terrorism-specific vulnerability assessment will provide a logical and systematic framework for identifying and addressing potential terrorist threats. You can assess your business’s vulnerabilities using our free self-assessment tool, VSAT™.
Identify measures to reduce risks
Well trained staff and physical security measures are usually the first line of defence, helping to deter, detect, and delay any potential intruders while the appropriate response is coordinated. Installation, maintenance, management, training and operational policies are also key elements in ensuring your business maintains the necessary layers of protection.
Our counter-terrorism security best practice guide will help you identify:
- The security improvements you need to make
- The type of plans you need to develop
- Governmental guidance vs legislation
- Up-to-date best practice
Review and adapt your security measures
To ensure they remain appropriate to the current and emerging threat, we advise businesses to regularly review and revise risk management plans and procedures to ensure that they remain appropriate and robust. In order to ensure effective protection against the threat of terrorism, businesses should be able to clearly understand, analyse and address the risks.
To keep you up to date with the latest terrorism risk management best practice, we developed the SOLUTIONS Centre – our free, easy-to-use self-service platform.
Subscribers benefit from exclusive access to our premium content, including a broad range of trusted expert terrorism threat analysis, practical tools, downloadable templates, checklists, courses and workshops.