23 May 2017Insurance

Pool Re will resolve claims from Manchester attack "as quickly as possible"

Pool Re, the mutual reinsurer that provides terrorism cover for commercial property in the UK, has stated that it will work with its members to resolves any claims that result from the suicide bombing last night in the UK city of Manchester.

The terrorist targeted Manchester Arena where US singer Ariana Grande was performing.

A homemade bomb was detonated in the foyer at 22:30 BST, killing 22 people and leaving 59 injured, according to the BBC.

"Our thoughts are with all those affected by last night’s horrific attack in Manchester," Pool Re said in a statement.

"Pool Re will work with its Members in resolving any claim arising from the attack as quickly as possible.”

The UK government-backed reinsurer said that it will make a further statement when more information becomes available.

Pool Re has previously stated that insurers need to be aware of the possibilities of the various forms of attack.

While small-scale non-firearm attacks in public places are more likely, the more widespread and lethal attacks (explosives, dirty bombs, biological weapons), are still very much possible.

Intelligent Insurer previously spoke to Pool Re about the severity of a 'dirty bomb', one that uses radiological materials such as Caesium-137, a widely available material in blood irradiators in hospitals.

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More on this story

Insurance
10 February 2017   Re/insurers need to work with governments and the security services to close the 'information gap' in the market around terrorism and its constantly changing threat, claimed Pool Re, the UK government-backed terrorism insurer, in its latest report on the subject.
Insurance
6 April 2017   Chemical, biological, radiological and nuclear (CBRN) attacks represent a huge threat to large populated cities and the material is readily available to terrorists, according to Pool Re. Speaking ahead of a joint conference in London, Pool Re and the Washington-based non-profit organisation Nuclear Threat Initiative (NTI) explain to Intelligent Insurer why they are now focusing on this particular risk.
Insurance
14 June 2017   Pool Re, the mutual reinsurer that provides terrorism cover for commercial property in the UK, has appointed Howard Cheetham as head of distribution.