Insurance rates for terrorism cover are unlikely to rise in the short term in the wake of the weekend bombing in Northern Ireland, says Pool Re.
A bomb planted by a dissident IRA faction exploded behind a hotel in Fermanagh at the weekend, in an apparent attempt to derail the Northern Irish peace process. In this case, the damage was relatively small and there were no reported injuries.
A spokesman for Pool Re, which handles reinsurance for terrorist damage only on the British mainland, said that the group would "wait for an event to happen" before considering any rate moves.
However, he added, Pool Re's current reserves "have proved to be financially quite resilient".
A spokeswoman for Hiscox, the UK's largest commercial catastrophe reinsurer, said that the company has been aware of a persistent threat of terrorism, "and we've been advising that the risks have not gone away".
