Government launches Pool Re insurance scheme for busy public venues

Pool Re has launched an initiative to help firms reduce their insurance if they take part in a scheme set up to help protect busy public sites and venues from attacks.

Businesses which own commercial sites across the UK, such as shopping centres, hotels, pubs, sports stadia or cinemas, will be eligible if they engage in the government’s Crowded Places programme and apply for a loss mitigation credit (LMC) from October.

Metropolitan Police assistant commissioner Mark Rowley, the country’s most senior counter-terrorism officer, said: “This scheme is an excellent example of the police and private sectors working closely together to keep people safe from the threat of terrorism.

“The Crowded Places scheme provides security improvements for businesses and their customers at their premises. It is a testament to its effect that they can benefit financially from reduced insurance costs.”

Last year the National Counter Terrorism Security Office (NaCTSO) developed an assessment tool for companies and sites to use to review their security against terrorist attacks.

The new initiative has been jointly devised by the Home Office, Treasury and police, and agreed with Pool Re, the Shropshire Star reports.

Details will be set out today by Chief Inspector Paul Howell, from the NaCTSO.

Security Minister John Hayes said: “I welcome this scheme, which will ensure that site owners who take appropriate steps to mitigate risks can be rewarded for their responsible action to keep the public safe.”