Welcome to our fourth Pool Re Terrorism Frequency Report and the first report in 2019.
In this edition we look in some detail at the issues and challenges posed by terrorist attacks causing Non-Damage Business Interruption (NDBI). The recently passed Counter-Terrorism and Border Security Bill 2018 will allow Pool Re to cover losses incurred if a business cannot trade or is prevented from accessing its premises in the wake of a terrorist attack. Before the law was changed, Pool Re could only reinsure losses incurred if a company’s premises had been physically damaged by terrorists. This is a significant development in the company’s history.