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Member, Beacon International Group, Ltd.
Pool Reinsurance Co. Ltd. on Monday said it has partnered with Cranfield University and Guy Carpenter & Co. L.L.C. for the development of a terrorism risk model.
Pool Re said the U.K. terrorism risk model will include the potential impact of a chemical, biological, radiological or nuclear attack, Pool Re said in a statement.
“Major strands of our modernization program have been concerned with the introduction of more risk-reflective pricing and an improved understanding of the exposures faced by both the insurance community and the broader U.K. business community in the face of a changing terrorism threat. This important partnership will develop a risk model that helps us in both of these areas,” Pool Re CEO Julian Enoizi said in the statement.
Cranfield University has campuses in Bedfordshire and Swindon, England.
London-based Pool Reinsurance Co. Ltd.'s chief underwriting officer Steve Coates said that the reinsurer's current reinsurance program does not include collateralized or insurance-linked securities capacity but it is open to using non-traditional capacity in the future, reported Artemis.bm.