Pool Re review makes call for evidence | Insurance Business UK
It’s been a big year for terrorism reinsurer Pool Re.
After being officially classified as a government entity back in March, it is now subject to a five-year review. Now, that review has announced a call for evidence with Economic Secretary to the Treasury John Glenn commenting that the assessment will “ensure that the rules, systems and risk sharing arrangements remain in the best interests of Pool Re and its members, the government, the taxpayer and the wider economy.”
The call of evidence, which runs until November 22, is looking for responses to a number of questions surrounding the terrorism reinsurance market. Among them is “how the guarantee HMT extends to Pool Re impacts the market for terrorism (re)insurance and how any amendments to the terms of the guarantee and the rules that govern HMT’s relationship with Pool Re would impact the availability, affordability and take-up of terrorism insurance.”
“This review is an important part of our close cooperation with the government, which has enabled Pool Re’s success as a private partnership,” said Pool Re CEO Julian Enoizi. “The call for evidence presents a crucial opportunity for the market to contribute to the review and collaboratively influence the future direction of Pool Re. I strongly urge members, stakeholders and others involved with the terrorism (re)insurance market to respond to the questions being posed.”
You can find the call for evidence here.