Pool Re, the UK’s largest terrorism reinsurer, used its annual Market Event to discuss the evolving threat landscape, the UK’s resilience against terrorism, and the ‘yawning SME terrorism insurance gap’.
During the event Pool Re published a new paper, The Threat Posed to Small and Medium-Sized Enterprises. This explores the current global threat environment and outlines the practical steps that UK businesses can take to manage terrorism-related risks.
The key points from this include:
- It is highly likely that any terrorist attack against an SME at this time would be conducted by an individual or small cell (approximately two to three individuals) using a low sophistication methodology (e.g., Bladed or Blunt Force Weapons, Vehicle as a Weapon, Fire as a Weapon).
- There is a realistic possibility that terrorist actors could have the capability to conduct a high sophistication attack against SMEs (e.g., Improvised Explosive Device, Firearms, etc.). The complex nature of plotting a high sophistication terrorist attack makes it highly likely that there would be greater opportunity for UK police and security services to disrupt potential attacks.
- It is highly likely that there would be a heightened threat to SMEs in major cities and those in proximity to iconic sites and/or major transport hubs. There is a realistic possibility that SMEs located in proximity to iconic sites and/or busy public spaces could be impacted by a Marauding Terrorist Attack in proximity to their site.
- There is a realistic possibility that terrorist actors could have the intent to target SMEs as a result of personally held beliefs that are contrary to the nature of any given business.
