Non-damage BI and emerging threats

The Old Library, Lloyd's
Tuesday, 26 March 2019
1:10 pm – 1:55 pm
    • Steve Coates, Chief Underwriting Officer, Pool Reinsurance Company Limited
  • Property/LBIA webinar

In this IIL joint property/LBIA lecture Steve Coates examined the recent change in UK terror legislation which allows Pool Re to cover non-damage business interruption. He will consider this through the lens of BI policies and how they have developed and changed over time.

Steve explained that the London Bridge attack in 2017 highlighted the terrorism insurance gap. This is the former gap between BI policies and terrorism supported by Pool Re. Legislation has recently been passed to address this issue which will allow most UK property insurers to offer non-damage BI cover where it results from a certified act of terrorism.

It is important to consider this change not only in terms of the wider cover it facilitates, but against the contemporary terrorist threat which continues to change and adapt in ways natural perils do not.

BI policies have evolved enormously in recent decades and whilst this is positive news, much of the base functionality of a BI policy is still calibrated around physical damage to tangible property. The question remains around how BI policies need to evolve further.

By the end of this lecture members would have gained an insight into:

  • Understanding the current terrorist landscape in the UK and Europe
  • The reason why terrorism legislation had to be amended
  • The nature of the non-damage cover that is now available
  • How modern BI policies need to evolve to meet toda'ys threats

Tim McGain, President, LBIA and Head of Property, AGCS Regional Unit.

  • The Old Library, Lloyd's
  • One Lime Street
  • London
  • EC3M 7HA
View map

Registration & Security

IIL lectures are open to CII and PFS members
CII and PFS members must register online by 12pm one working day before the lecture
For lectures held in The Old Library, Lloyd's pass holders may also attend and do not need to register
All attendees (at any venue) must produce photo ID - either a Lloyd's pass, driving licence with photo or valid passport


  • Email confirmations and photo ID must be produced to security staff at the lecture venue
  • Attendance confirmations are non-transferable to any other person or lecture
  • All venues have limited capacity and registration and/or a Lloyd's pass does not guarantee admission

Please let us know what we can do to make our events fully accessible to you.

Please contact Patricia Pedraza (020 7397 3911) with any queries regarding the CPD events programme.

CII Accredited

This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.

3/4 hours' CPD can be claimed for this event if relevant to your learning and development needs.

It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at