Terrorism
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.
Aegis partners with PWC on cyber terrorism product
Lloyd’s syndicate Aegis London has launched a new cyber product in response to the growing threat of destructive attacks linked to on-going conflicts.
Review of the Year: Lloyd's
Post’s annual review of Lloyd’s and the London market gathered reflections from players including Besso, Markel, Lloyd’s, Hiscox, EY and Beazley to reflect on 2014 and the challenges and expectations that lie ahead for next year
Insurers to remain reliant on Pool Re in face of large potential losses
Insurers are likely to continue to participate in Pool Re despite the proposed levy increase, according to a briefing from AM Best.
Pool Re satisfied with terror deal despite ceding increased premium to Treasury
Members vote in favour of deal that will see 50% of premium go to government
Marsh unveils Pool Re alternative terrorism facility
Marsh has unveiled a new UK terrorism facility to provide cover to clients with commercial property assets in the UK.
Airmic throws support behind Pool Re modernisation plans
Risk management association Airmic has claimed plans to modernise Pool Re will make the terrorism reinsurance scheme more attractive to business as well as diversifying its risk base.
Insurers' ransom payments to be banned in Bill
A legislation change that will prevent insurers from making ransom payments to terrorist groups is expected to be announced today.
Pool Re members vote in favour of Treasury retrocession changes
Pool Re members have voted unanimously in favour of approving the demands made by HM Treasury for changes to its retrocession agreement.
Pool Re hails Treasury 'concessions' ahead of EGM vote
Pool Re has welcomed "significant concessions” from HM Treasury in its quest to modernise the terrorism scheme.
Pool Re members urged to back amended retrocession deal
An extraordinary general meeting has been convened for members of government-backed terrorism facility Pool Re, following news that HM Treasury plans to amend the terms of its retrocession agreement.
Experts reveal ‘significant’ links between insurance fraud and terrorism
Met commissioner says one-third of counter-terrorism policing is fraud-related
Editor's Comment: Is terror the fraud tipping point?
In August the UK’s terror threat level was raised from “substantial” to “severe”, the second highest of five levels, in response to conflicts in Iraq and Syria.
Government's Pool Re levy increase leaves insurers little room to manoeuvre
The timing of the government's proposed increase to its Pool Re fee has left insurers with few options, according to market commentators, as time to negotiate alternative reinsurance arrangements is limited.
Insurers likely to benefit as Treasury looks to hike Pool Re fee
The government’s attempt to increase the fees it receives from Pool Re will provide substantial growth opportunities for independent insurers as buyers look for alternative cover, according to Lockton’s terrorism head.
Reinsurance terrorism market softening, claims Guy Carpenter
The terrorism market for reinsurance is softening, according to a report by Guy Carpenter, which claimed greater capacity and an absence of major terrorist-related losses has led to an increase in competition.