The changing face of terrorism clams
In this IIL claims lecture Warren Haydock provided a brief background of Pool Re, the evolution of the modern terrorism threat, and a look at recent European and UK terrorism incidents.
Warren started by explaining that Pool Reinsurance is a mutual reinsurer, owned by its members and supported by the UK Government with the intention of providing property reinsurance for terrorism in the United Kingdom.
He explained that modern terrorism, and that evidenced over recent years across Europe and the UK, suggested a changing face of the manner in which terror is delivered. This change from traditional highjacking and bombs, to modern terrorists using simpler methods such as bladed and vehicle attacks to inflict harm. This change results in less damage to property, and a greater injury and loss of life.
Warren's view is that having the foresight to foresee these new emerging risks, Pool Re are constantly adapting the reinsurance cover provided to the market.
By the end of this lecture members would have gained and insight into:
- Who are Pool Re
- What are the changing aspects of terrorism in the UK
- What were the insurance issues arising from the terrorist incidents of 2017 and how is the insurance market adapting to provide cover for these and future incidents
Speaker Bio:
Warren is Claims Manager at Pool Re, having been with the company since 2009. Warren is responsible for delivery of the company's claims strategy, technical oversight and settlement of any terrorism claims within the UK. Having served over 28 years in the insurance claims sector, as a past property claims manager at Chubb Insurance Company and qualified loss adjuster with GAB Robins Loss Adjusters (South Africa). Warren is a recent President of the London Business Interruption Association.
Chair:
Mark Graves, Head of Claims EMEA, Swiss Re Claims Corporate Solutions.
Venue
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