Pool Re to hand back terrorism contingency cover to commercial market

Concert

State-backed terrorism insurer Pool Re will no longer offer contingency cover, as the commercial market believes it has the capacity to take back control.

Pool Re began offering terrorism contingency cover for events after London won the bid for the 2012 Olympic Games. At the time, the market was deemed to have a lack of sufficient capacity to handle

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ABI insists fire safety scheme is temporary

Mervyn Skeet, the Association of British Insurers’ director of general insurance, has outlined how the trade body will ensure the Fire Safety Reinsurance Scheme will only last three to five years, and how it will should end criticism of brokers earning commission for arranging cover.

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