Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential merits of extending the scope of Pool Re insurance to cover all major incidents and disasters in the UK.

We are working closely with the insurers, the trade bodies and regulators to understand what more the industry can do to help individuals and businesses during the current crisis, and to learn lessons for future risks.

Whilst the scope of the current Government review of Pool Re is limited to its role as a reinsurer of terrorism risk, the conclusions from this work will also have important implications for how we manage systemic risks more broadly.