terrorism reinsurance News

Pool Re Completes £2.4 Billion Terrorism Retrocession Program

Pool Re, a leading British terrorism reinsurer, said it has completed placement of its £2.4 billion retrocession program with more than 50 international reinsurers, led by Munich Re. Hannover Re also provided a significant part of the coverage. The £2.4 …

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. …

Industry Applauds House Panel Backing of Terrorism Reinsurance Renewal

Insurance carriers and agents are applauding a House committee vote advancing a bipartisan measure to renew the federal terrorism reinsurance program. The House Financial Services Committee unanimously (57-0) passed the Terrorism Risk Insurance Program Reauthorization Act (H.R. 4634), which would …

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 …

Aon Benfield Taps Paire & Karhan from Carpenter for Capital Advisory, Terrorism Specialty Units

Aon Benfield, the global reinsurance intermediary and capital adviser of Aon plc, announces two new high profile appointments to lead its Capital Advisory and Terrorism Specialty divisions: Eric Paire and Emma Karhan, respectively. Reporting to Nick Frankland, UK CEO of …

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 …

Pool Re to Include Physical Damage from Cyber Terrorism, Effective April 2018

Pool Re, the UK’s terrorism reinsurance pool, announced it will extend its cover to include material damage and direct business interruption caused by acts of terrorism using a cyber trigger. The new cover will be available in April 2018. The …

UK’s Terrorism Reinsurer, Pool Re, Plans to Extend Cover to Include Cyber

Britain’s 6 billion pounds ($7.3 billion) terrorism reinsurance fund hopes to extend its cover to include cyber attacks on property, chief executive Julian Enoizi said. Pool Re, set up in 1993, acts as a backstop to insurers paying out claims …