Terrorism
Pool Re modernisation initiatives to launch in October
Pool Re modernisation initiatives including an updated SME proposition, risk reflective pricing and enhancements to the customer experience will take effect from 1 October.
Client demand tipped to trigger broader coverage for terrorism 'non-events'
The changing face of global terrorism is likely to cause an influx of insurance products to target terror-related threats as the scale and scope of terror events expand.
Piracy: Risks moving from Africa to Asia
Although there has been good progress tackling piracy in both East and West Africa, ensuring global attacks declined for a fourth year in a row last year, it continues to thrive elsewhere.
Changing face of terrorism sparks launch of Hiscox threat policy
Hiscox claims it is responding to “the changing nature of terrorism” with the launch of a product designed to protect businesses against the loss of revenue suffered as a result of a threat or hoax.
Interview: Julian Enoizi: A pool of knowledge
Eighteen months into his role as CEO of Pool Re, Julian Enoizi talks about the changes he has made, how a new government may affect things and offers advice to Flood Re.
Europe: How did the Western Sanctions affect the Russian insurance market?
At the end of January the Council of the European Union agreed to extend existing sanctions against Russia. This move comes a year on from the introduction of the first set of sanctions, and now we can estimate its impact on the Russian insurance market.
Pool Re CEO says cyber risk warrants public-private partnership
A public-private partnership in the area of cyber risk should be considered given the potentially systemic nature of the loss, according to Pool Re CEO Julian Enoizi.
Munich Re leads Pool Re's £1.8bn reinsurance programme
Government-backed terror scheme Pool Re has purchased reinsurance in the commercial market for the first time in its history.
Penny Black’s Insurance Week - 19 February
Despite being a woman of traditional tastes, Penny is aware the threat of cyber-attacks is very real, as reflected in the ominous words of various speakers at an event in London on the subject.
LMA issues TRIA guidance note
The Lloyd's Market Association has issued a guidance note to the London insurance market on Terrorism Risk Insurance Act legislation.
Terrorism: Defusing the terrorism bomb
Despite recent terrorist attacks, the insurance market remains resilient, with losses in property damage and business interruption remaining low. However, what effect will the changes to Pool Re have?
Pool Re reportedly weighing business interruption changes
UK terrorism insurance scheme Pool Re is reportedly evaluating changes to business interruption cover in the aftermath of the Charlie Hebdo killings in Paris.
Sydney hostage siege declared as terrorist act
The hostage crisis that left two dead in central Sydney on 15-16 December has been declared a terrorist act meaning insurers will pay compensation to businesses.
Zurich CRO calls on regulators to boost innovation
Financial regulators need to encourage innovation, rather than stifle it, in order for companies to respond to high-level global risks, according to Zurich's chief risk officer.
Editor's comment: Je Suis Charlie
On 7 January terrorists attacked free speech by shooting dead 12 innocent journalists and police at the offices of the French satirical magazine Charlie Hebdo.
Counter-Terrorism Bill to be debated in the House of Lords
The House of Lords will be given the opportunity to debate the controversial new Counter-Terrorism and Security Bill, which includes a ban on insurers covering ransom payments.
Climate: How does climate change cause food insecurity and conflict?
As weather patterns change and temperatures rise, issues such as climate-induced food insecurity are destined to become an increasingly important driver of conflict and social unrest
IUA boss Matcham welcomes TRIA renewal agreement
The International Underwriting Association has heralded the decision in the US to renew the Terrorism Risk Insurance Act as a means of reducing economic uncertainty.
RFIB looks to Willis for hull hire
RFIB has appointed former Willis marine executive director Steve Hughes as its hull and war divisional director.
AM Best dismisses need for rating action on insurers reliant on TRIPRA
The US federal terrorism programme is to expire on 31 December due to the failure of the US Senate to reach an agreement to extend the Terrorism Risk Insurance Protection Reauthorization Act before the adjournment of congress.
XL launches chemical weapons product
XL Group's crisis management team has introduced a product covering chemical, biological, radiological and nuclear events.
Future sustainability of Pool Re to be achieved by modernisation in 2015
The Pool Re board is aiming to complete its modernisation of the 22-year-old terrorism facility by the end of next year.
Suspected terrorist attack in heart of Sydney
Hostages held by an Islamic extremist with a shotgun and possible accomplices in siege at coffee shop in Sydney's central business district.
Reinsurance tariff hike won't impact Pool Re rates, claims Willis
The increased premium ceded to government as part of the new deal agreed with Pool Re will not result in a hike in rates paid by members of the terrorism facility, according to Ian Kennett, executive director in Willis' real estate practice.