Last year five successful terrorist attacks were carried out in the UK, resulting in 36 deaths and over 300 injuries. But beyond the numbers, the UK’s terrorism reinsurance pool wants to provide expert analysis of the trends and methodologies.
Publishing its first-ever
Terrorism Frequency Report, Pool Re shares a record of the recent attacks and details their severity and frequency. The quarterly resource also includes analysis and views from the scheme’s Terrorism Risk and Analysis Centre (TRAC) team, as well as from former members of the security services.
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According to the inaugural report, produced by TRAC, 400 were arrested for terrorism-related offences in 2017. In addition, 10 attacks were disrupted because of MI5 and police response.
“As we move into 2018, a year that could bring unprecedented levels of terrorism risk to the UK mainland, the effective partnering of Government, the insurance industry, and businesses will be critical to the continued resilience of the UK, “ said Ed Butler CBE DSO, head of risk analysis at Pool Re.
Currently the threat level from international terrorism to the UK is “severe” while there is “substantial” threat from Northern Ireland-related terrorism to Britain.
Pool Re’s
Terrorism Frequency Report looked at the rising threat from the ‘Virtual Caliphate’, online radicalisation, cyberattacks, and the implications for UK security and business. Topics discussed also include the use of improvised explosive devices, as well as how a potential merger between Al Qaeda and Daesh could alter the threat landscape in the UK.
“It also identifies key trends and themes designed to inform and thereby enable the terrorism (re)insurance market to assume more risk and, in so doing, remove it from the Government’s balance sheet,” said Pool Re chief executive Julian Enoizi.
He added that the scheme must continue to evolve in order to remain relevant.
“This is the latest example of our efforts to do so,” noted Enoizi. “We will continue to strengthen the scheme and to furnish our members with the tools and resources to allow them to better enhance the UK’s resilience.”
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