Insurance industry gathers to help counter the threat of terrorism

Some 200 re/insurance professionals will gather in Brussels this week to share their insights on terrorism, and help mitigate its effects.

The International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP) holds its annual conference in Brussels on Thursday. The organisers say it is set to be the largest gathering of international terrorism reinsurance pools, insurers, reinsurers, academics and thought leaders in the industry.

Terrorism, and its effects, are a growing threat worldwide that demand a concerted global response from (re)insurance markets and governments, said IFTRIP, adding that the level of knowledge and risk management developed in national terrorism pools and schemes can form a vital part of this response.

Julian Enoizi, CEO of Pool Re, said: “IFTRIP is a valuable forum where members can share expertise and experience to help combat the threat of potential major economic loss resulting from terrorism. In particular, the conference, by bringing together so many attendees from diverse homelands, each facing their own separate but similar threats, provides a very useful forum for learning lessons and sharing expertise with each other.”

The topics being discussed at the conference will range from technology and modelling through to cat bonds, cyber, radicalisation and victim compensation.

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