Reinsurance (Acts of Terrorism) Act 1993

Thursday 22nd March 2018 Written Statements

[The Economic Secretary to the Treasury (John Glen)]

I am today announcing that the Government intend to legislate as soon as parliamentary time allows to amend the Reinsurance (Acts of Terrorism) Act 1993. This amendment will enable an extension of the cover provided by the Government-backed terrorism reinsurer Pool Re to include business interruption losses that are not contingent on damage to commercial property. I will announce further details in due course.

This Government remain committed to ensuring that businesses can continue to secure insurance against the financial costs of terror attacks.

[HCWS579]