UK launches review into terrorism reinsurance fund By Reuters

Japan eyeing second extra budget worth over $929 billion: Nikkei

LONDON (Reuters) – Britain’s finance ministry has launched a review of terrorism reinsurer Pool (NASDAQ:) Re, which helps insurers pay out claims on property damage caused by terror or militant attacks.

The Treasury said its latest five-yearly review was designed to ensure the UK’s terrorism reinsurance market worked effectively and in the public interest.

It will consider whether the level of risk sharing between the state and private firms is appropriate and whether its rules should be updated, given ongoing growth of the terrorism reinsurrance market, the ministry said.

The reinsurance fund, set up in 1993, acts as a backstop to insurers paying out claims on property damage and business interruption.

It is financed by the insurance industry with government backing, and pay outs depend on the British government deeming an attack to be terror-related.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.