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Regulation, Geopolitics

Prediction: Terrorism definitions invite renewed scrutiny

Regulation, Geopolitics
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Prediction

The recent publication of the Terrorism (Protection of Premises) Bill may prompt a reconsideration of insurance-adjacent issues related to terrorism, including the definition of terrorism currently used by Pool Re. The Bill uses the definition of terrorism as contained within the Terrorism Act 2000, which is materially different from the definition in the Reinsurance (Acts of Terrorism) Act 1993 which set up Pool Re. Clarity and consistency on this topic remain essential if coverage disputes are to be minimised, especially as there are different definitions of terrorism in operation across various jurisdictions.

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