The next Pega Executive Forum event is being held in September and we are fortunate enough to have Eliza Manningham-Buller, former head of MI5 attending as our guest speaker.
A great opportunity for our guests to hear directly from an informed source about how security matters affect business life and the outlook for insurance. It will prompt a lot of thought about how businesses should respond amid so much uncertainty.
The former director-general of the British security service (MI5) himself believes the terror threat being faced by the UK is far from over. Pinsent Masons’ Nick Bradley, in his analysis published on Out-Law two months ago, said the insurance industry’s understanding of terrorism cover in the UK is widening, following the recent London & Manchester attacks. The insurance law expert believes insurers must focus on how business interruption cover is being extended beyond the realm of property damage. “The real damage caused by the ‘lone wolf’-style tactics adopted by the attackers at Westminster, Manchester Arena, and London Bridge was loss of life, injuries, and significant disruption to local businesses,” he said. Bradley noted that the attacks, which targeted civilians and not property, “would have been completely unforeseeable when Pool Re (the UK’s government-supported terrorism risk reinsurer) was established in 1993.”