Risk management training, information, tools to build resilience in the economy, reduce the likelihood of loss and reduce the impact of any loss that does occur.
The aims of our risk management service are:
To be the key facilitator of terrorism risk management information and techniques by building pathways which link government agencies, academia, risk professionals and the insurance industry.
To allow the tools, techniques and expertise to be cascaded through the insurance industry to its policyholders and their advisors
To not only reduce the underlying terrorism risk the UK faces, but mitigate and reduce the effects of attacks should they occur.
The Risk Management arm’s core activities will build on the success of our risk management tools, training and advice by:
- Developing and distributing risk mitigation tools, such as VSAT for adoption by members and their policyholders.
- Promote government initiatives and risk management best practice, using the Information Sharing Platform to advocate for advice generated by government agencies
- Devise and deliver training initiatives for members in collaboration with academia and industry specialists. Courses will train a new generation of risk engineers and claims handlers to improve national terrorism risk literacy, and integrate terrorism within broader property risk management practice
- Produce risk mitigation information and educational material around emerging issues or new aspects of risk, and distribute them through seminars, literature and our Member Portal.
- Undertake specific PML studies to evaluate and quantify terrorism scenarios.
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
What is VSAT?
Pool Re’s Vulnerability Self-Assessment Tool (VSAT) is our flagship risk management tool, launched in February 2018. Policyholders can use the online tool to benchmark their counter-terrorism risk management standard, and receive structured risk mitigation advice from the Centre for the Protection of National Infrastructure (CPNI) and the National Counter Terrorism Security Office (NaCTSO).
It is aimed at mid-sized and large Policyholders, those with a total Property value in excess of £50m. VSAT builds on Pool Re’s work and collaboration with NaCTSO’s ‘Crowded Places’ programme and can be accessed by this LINK.
Read our latest Risk Management resources