Strong welcome for Pool Re business interruption extension

Airmic has strongly welcomed the Treasury decision to allow Pool Re to extend its terrorism cover to Business Interruption. Deputy CEO Julia Graham said:

"The decision to allow Pool Re to cover Business Interruption will be warmly welcomed by industries in the UK and is a development that Airmic has always supported. It is a logical and much needed step, especially with the rapid changes in business models that are taking place. The potential cost to supply chains of future terrorist attacks is now every bit as great as the physical loss of buildings. The ability to transfer the BI element of terrorism risk to Pool Re will be a real benefit to risk managers."

For further information, please contact Mark Baylis, Complete Communications

mark.baylis@airmic.com, +44(0)2380 651473, +44(0)7775 693994