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Terrorism: Insurance

Question for Treasury

UIN HL6762, tabled on 13 July 2020

To ask Her Majesty's Government whether they have any plans to use Pool Re’s model of terrorism (re)insurance to provide cover for other systemic events that could impact the economy.

Answered on

22 July 2020

Ideally all firms would be able to purchase the insurance products they need on a market basis, but the Government recognises that in some exceptional circumstances that may not be possible.

The Government welcomes ideas for how insurance can build resilience and access insurance in future, noting the new risks and challenges from the outbreak of COVID-19. We will be assessing all proposals in due course.

Answered by

Treasury