TERRORISM RISK MANAGEMENT
Our team of experts combine their knowledge and experience with Government agencies, academia, risk professionals and the insurance industry to provide specialist terrorism management solutions, to improve organisation’s resilience against terrorism.
TERRORISM RISK MANAGEMENT
Our risk management experts understand terrorism risk and its potential impacts on businesses, organisations and Member Insurers. We provide tools, cutting edge modelling, and analysis capabilities to fully assess and explain the risk. The team also supports organisations in mitigating the risk, whether that be through benchmarking of existing security practices against best-practice, or providing recommendations for risk mitigation improvement. Pool Re Solutions can support your organisation in improving its resilience against the threat of terrorism.
A robust terrorism risk management plan can help with:
Protecting People
A well prerpared and actioned risk managemnet plan can help deter against a potetnial attack, and ensure better preparendness for deailing with an incident, in order to protect those accessing your site.
Business Continuity
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.
Costs
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.
OUR BESPOKE AND FREE-TO ACCESS RESOURCES:
Probable Maximum Loss (PML) Studies
Our bespoke PMLs identify the Credible Worst-Case scenario to organisations and, through state of the art computational modelling, can assess the potential loss, damage and financial cost of such an event, providing assurance to the insurer and policyholder.
Threat, Vulnerability and Risk Assessments (TVRA)
Our experts provide bespoke TVRA on behalf of an organisation to assess the threat they are exposed to. We identify vulnerabilities that could be exploited during an attack, in order to identify proportionate risk improvement recommendations.
Vulnerability Self-Assessment Tool (VSAT)
Our free-to-access VSAT benchmarks terrorism risk management procedures of an organisation against best practice. We reward good risk behaviour through the 10% Loss Mitigation Credit on insurance premiums for those organisations which meet the criteria.
Crisis Exercise Simulation
We support organisations in identifying credible impact scenarios, and then in testing and exercising them, so that organisations are prepared to deal with an attack, if the worst were to happen.
Legislative Compliance
Our risk management team provides regular updates on the progression of Martyn’s Law and other legislation, and analysis on the consequences for the insurance industry.
EXPLORE RISK MANAGEMENT
