Context
HM Treasury has published an open consultation and is seeking input in a call for evidence in respect of its relationship with Pool Re and ongoing intervention in the UK terrorism (re)insurance market.
HMT is committed to regularly reviewing its relationship with Pool Re to ensure that it remains in the best interests of Pool Re and its members, the government, the taxpayer and the wider economy.
Key points to note
- The review will conclude in Spring 2021 and will set the strategic direction for Pool Re for the coming five years.
- The call for evidence covers:
- – How the guarantee that the HM Treasury extends to Pool Re impacts the market for terrorism (re)insurance, and;
- – How any amendments to the terms of the guarantee and the rules that govern HM Treasury’s relationship with Pool Re would impact the availability, affordability and take-up of terrorism insurance.
- The call for evidence will remain open for six weeks, and closes on 22 November 2020.
- Responses can be submitted to: PoolReReview@HMTreasury.gov.uk .