Pool Re

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The Pool Reinsurance Company Limited, also known as Pool Re, is a mutual insurer set up by the British government with leading insurers. Pool Re has substantial reserves, and in addition HM Treasury acts as the reinsurer of last resort for Pool Re.

Insurers in the UK can reinsure with Pool Re. their liabilities for terrorism claims in excess of their self insured retention. The self insured retention, i.e. the amount each insurer will pay from its own funds, varies between insurers depending on the size of their terrorism insurance portfolios.

"Pool Re" was the British government's 1993 response to the withdrawal of reinsurance cover of the UK market for terrorist attacks, following the IRA bombing of the Baltic Exchange in 1992.[1]

Notes[edit]

  1. ^ Thomann 2004, p. 38.

References[edit]

Further reading[edit]

  • OECD (2005). "4.3.7 United Kingdom". Terrorism risk insurance in OECD countries(Volume 9 of Policy issues in insurance) (illustrated ed.). OECD Publishing. pp. 255–260. ISBN 92-64-00872-1. 

External links[edit]