Readers will no doubt be familiar with the many articles written since 11 September dealing with the subject of terrorism insurance (or rather the lack of it) and the problems that may arise in traditional institutional or full repairing and insuring leases (FRI leases) due to the current situation.
But how will the lack of terrorism insurance cover in the current market affect the Pool Re scheme, and how, in turn, will this affect FRI leases?
Pool Reinsurance Company Limited (Pool Re) was incorporated on 8 March, 1993 as a private company limited by guarantee and authorised by the Government to carry out reinsurance business in the UK.
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