POOL RE TO EXPAND CAPABILITIES TO TARGET SMES

UK terrorism scheme Pool Re plans to make further changes to make its products more accessible to small-medium enterprises (SMEs). The scheme is also assessing at the extent to which it can provide cover for cyber terrorism and is looking to expand its terrorism modelling capabilities, the mutual's chief underwriting officer, Steve Coates, has said. Coates told Insurance Day the pool will look to make changes next year that will focus on the SME market, building on the developments it has already made. "The SME market is one that is very commoditised and is sold in a completely different way. We have to make it easy for them to buy terrorism cover and our current proposition probably doesn’t align with that very well, so we want to make some changes so it can fit into that click-and-buy process," he said.