Lloyd’s Holds Conference on Terrorist Threats in New York

November 5, 2007

Threats from terrorists have become a subject nobody can ignore – least of all the insurance industry. To meet those threats requires knowing who the terrorists are and how they operate. Lloyd’s recent seminar “Sharing Lessons on Terrorism” in New York City aimed to bring together the UK and the US experience on the subject.

Over 200 business and insurance leaders gathered to hear a debate, which Lloyd’s hopes “will further encourage the sharing of information and expertise across the Atlantic.”

Lloyd’s Chairman, Lord Peter Levene’s opening remarks described the Sept. 11 attacks and the London underground bombings in July 2006 as common threats for both countries, which require more cooperation. He told his audience that “the UK and the US have never needed their special relationship more than now and our governments are working together closely on international terrorism issues.”

Tom Carver, Senior Vice President of Control Risks, who heads the Washington office, acted as seminar chairman. He introduced an impressive selection of counter-terrorism experts including: Sir Richard Mottram, Permanent Secretary for Intelligence, Security and Resilience in the UK; Dr Rohan Gunaratna, Head of the International Centre for Political Violence and Terrorism Research based in Singapore; Sir David Veness, Under-Secretary-General for Safety and Security at the United Nations and Dr. Richard Falkenrath, the Deputy Commissioner for Counter-Terrorism at the New York City Police Department.

Wendy Baker, President of Lloyd’s America, observed: “It is evident that US businesses are increasingly concerned about the threat of terrorism, but that many are under-prepared. At Lloyd’s, understanding and dealing with major risks is at the heart of what we do. Today’s event highlights the scale of the threat and addresses some of the practical steps businesses need to take to protect themselves.”

The conference, the first of its kind that Lloyd’s has organized outside of the UK, was part of its “360 Project,” which aims to provide information, encourage debate and sound risk management on subjects of global concern to the business and insurance community. In 2006 it addressed the impact of global warming. Terrorism is this year’s subject. In 2008 the 360 project will turn its attention to professional liabilities.

A full treatment of the seminar is available on the Lloyd’s web site at www.lloyds.com. Lord Levene’s speech can be downloaded at: http://www.lloyds.com/News_Centre/Briefings_and_speeches/welcome_remarks_to_360_risk_debate_New_York.htm.

Source: Lloyd’s

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