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.
Welcome to our fourth Pool Re Terrorism Frequency Report and the first report in 2019