Revitalising an institution: Public opinion and Pool Re
Pool Re is a state-backed terrorism reinsurer established by the UK insurance industry in 1993, in the wake of an IRA bombing campaign. The mutual gives member-insurers a guarantee which allows them to cover claims of any severity.
Twenty years after its formation, Pool Re had faded from prominence, and was poorly understood, even by its stakeholders. Haggie Partners was engaged to reinvigorate perceptions of Pool Re by increasing understanding of the reinsurer among its critical audiences, including the taxpaying public. Specific goals were to generate support among members for modernisation initiatives, and to bolster Pool Re’s position in delicate negotiations with Her Majesty’s Treasury, which provides its financial backstop.
Haggie Partners surveyed executives, underwriters, brokers, and businesses to measure awareness and perceptions of Pool Re. The findings emphasised the scale of the task necessary to improve broad knowledge of its function and importance, and to revitalise its profile. A wide-reaching communications plan was designed and implemented to explain the complexities of the scheme, and outline proposed changes. Accurate reporting of this vital but complicated organisation was essential to engender continued popular support for Pool Re.
Haggie Partner’s media campaign led to widespread and positive coverage in the national print and broadcast media. In the international trade press, Pool Re was propelled to a position of expert commentator on terrorism insurance issues. Chief Executive Julian Enoizi said: “We have dramatically changed the perception of the scheme and its role within the insurance industry, and successfully concluded intense negotiations with our partners in government. Haggie Partners has been invaluable to this process. They understand this sector and its media, consistently providing us with a platform to voice our position, and helping us to successfully shift perceptions amongst all our stakeholders.”
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