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25 February 2018

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UK government pledges action on Pool Re terror gap

Laura Board 7 December 2017

The government expects to confirm early next year how it will tackle a non-damage business interruption (BI) gap in Pool Re's remit, a Treasury minister said yesterday.

The terrorism reinsurance scheme has been in consultation with the government for months about broadening its mandate to meet the BI needs of companies whose operations are disrupted - but not physically damaged - by terrorism.

Stephen Barclay, economic secretary to the Treasury, told lawmakers on Wednesday the government "recognised the need to...

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