Pool Re News

Pool Re Forms Specialist Unit to Help U.K. Insurers Build Terrorism Risk Resilience

Pool Re, Britain’s government-backed terrorism reinsurer, has launched of Pool Re “Solutions,” a specialist unit created to support its member insurers and their policyholders by sharing the understanding and partnerships it has established over 25 years of reinsuring terrorism risk. …

Pool Re Buys Non-Damage BI Retro Cover in Program Led by Liberty Specialty

Pool Re, Britain’s terrorism reinsurer, announced the placement of its new retrocession program covering non-damage business interruption (NDBI) losses. The program incepted on July 5. The Counter-Terrorism and Border Security Bill 2018, which was signed in February 2019, allows Pool …

Pool Re Funds £10M Initiative to Help UK Businesses Improve Resilience to Terrorism

Pool Re, Britain’s terrorism reinsurer, is collaborating with UK government agencies to help businesses proactively protect against the risk of terrorism. The £10 million ($13.1 million) project is being funded by Pool Re, led by the UK Counter-Terrorism Police, in …

Pool Re Completes £2.3B ($3.1B) Terrorism Retrocession Placement

Pool Re, Britain’s state-backed terrorism reinsurer, has today completed placement of its £2.3 billion (US$3.1 billion) retrocession program with more than 50 international reinsurers, led by Munich Re. The program, provided on a three-year basis, is one of the largest …

U.K.’s Pool Re Sells Terrorism Risk Catastrophe Bond

A U.K. reinsurer has sold the first terror catastrophe bond, giving investors the chance to lock in high yields in return for taking on terrorism risks. The 75 million-pound ($99 million) three-year bond will pay 5.9 percent interest, state-backed Pool …

UK’s Pool Re Extends Terrorism Cover to Include Non-Damage Business Interruption

UK’s Pool Re now is able to cover losses incurred if a business cannot trade or is prevented from accessing its premises in the wake of a terrorist attack. Before a change in the law, Pool Re, a public-private partnership …

Property MGA EPUL Offers Online Terrorism Cover as Pool Re Alternative in UK

European Property Underwriting Ltd. (EPUL), the London-based commercial property managing general agent (MGA), has launched a flexible UK and Northern Ireland terrorism solution offering cost-effective cover as an alternative to Pool Re. EPUL’s stand-alone terrorism policy provides material damage and …

Pool Re to Extend Terrorism Cover to Include Non-Damage Business Interruption

Pool Re welcomed the UK government’s commitment to amend the 1993 Reinsurance (Acts of Terrorism) Act to enable it to extend its cover to include non-damage business interruption losses resulting from acts of terrorism. The reinsurer is currently restricted by …

Pool Re Extends Retrocession Program to $2.9B with Cyber Terrorism Now Covered

Pool Re announced it has renewed its retro program and extended the cover to include material damage and direct business interruption (BI) caused by acts of terrorism “using remote digital interference.” The renewed cover, brokered by Guy Carpenter, has been …

UK’s Pool Re Launches Terrorism Risk Assessment Tool to Help Insureds Cut Premiums

Pool Re, the UK terrorism reinsurer, announced the launch of the Vulnerability Self-Assessment Tool (VSAT). Aimed at medium and large businesses, this tool will enable Pool Re member insurers to offer a 5 percent premium discount to insureds which “implement …