14 re/insurance entities support Pool Re’s new terrorism forum

In an attempt to bring greater collaboration between the world’s terrorism re/insurance entities, Pool Re has launched the International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP).

A charter to formalise the launch of IFTRIP was signed at the 2nd Annual Global Terrorism Risk Insurance Congress, and eight terrorism pools have committed to supporting the organisation.
Commitment from a further six pools unable to attend the conference has already been received.

Francois Vilnet, vice president of GAREAT, a terrorism pool in France, has since been appointed as president of the IFTRIP, a position which will rotate on an annual basis.

Julian Enoizi, chief executive of Pool Re, said: “The launch of the International Forum of Terrorism Risk (Re)Insurance Pools represents the culmination of nearly two years of work from the both Pool Re team and our colleagues from pools across the world.

“It is a defining moment for international collaboration between national terrorism pools and represents a new departure which offers the potential to alter how the insurance industry protects against, and responds to, acts of terrorism across the globe. Terrorism has become an international phenomenon which knows no borders.

“Tragic events have provided the catalyst for the creation of IFTRIP. However, this organisation can be part of a more robust international response to this grave and evolving threat. I am truly proud that we have been able to come together as an international community with a shared vision of the role in which reinsurance pools can play in better protecting our nations’ economies.”

Vilent added: “We are pleased that Gareat has been chosen by our peers to serve as the inaugural presidency of IFTRIP. This will be a key step in starting the process of increased cooperation between terrorism pools. We are delighted that we will host the next Congress in Paris next summer.”