Source · Select Committees · National Security Strategy (Joint Committee)
Recommendation 29
29
Paragraph: 131
The Government works in partnership with the insurance industry to ensure cover for terrorist attacks,...
Recommendation
The Government works in partnership with the insurance industry to ensure cover for terrorist attacks, with an unlimited guarantee from HM Treasury. A percentage of this insurance pool—managed by Pool Re—is invested in resilience measures. This could serve as a model for an insurance-based scheme to encourage CNI operators to invest in resilience to the changing climate, as another major systemic risk. We recommend that the Government engages with insurance providers to explore options for a public-private insurance partnership to incentivise investment in climate adaptation measures, in conjunction with resilience standards and other forms of central Government oversight. It should report back to us with its findings in six months’ time.
Paragraph Reference:
131
Government Response
A response document is linked to this report, dated 2 March 2023. Response attribution to this recommendation has not been verified. Read the response document ↗