Pool Reinsurance conducted a study to better understand the terrorist threat to the retail and hospitality sector, so owners and managers can effectively manage and mitigate the risk. Here are the key findings:

The threat of terrorism is not exclusive to cities and major towns. More attention should be given to potentially less secure sites in suburban and rural areas.
Crowding and density represent attractive targets for terrorists, who prefer to use low complexity methodologies, such as vehicular and bladed weapons attacks, because they are quick to plan, easy to execute, and hard to detect and prevent. Those seeking to cause mass casualties and/or significant damage and disruption may also use more sophisticated methodologies, such as bombings.
A terrorist attack against the retail and hospitality sector is likely to cause disruption to local economies and damage public confidence. An attack could lead to a significant drop in sales and footfall, which could last several months.
Even localized attacks can affect the wider economy and could lead to a decline in consumer spending, hotel reservations and flight bookings, and, ultimately, Foreign Direct Investment.
The threat of terrorism to the sector stems mainly from Islamist extremist actors, although far-right, far-left and Violent Dissident Republicans (VDRs) have displayed the intent to target retail and hospitality businesses.
The British Government is considering a 'Protect Duty' legislation requiring business owners and operators in the retail and hospitality sector to do more to understand and mitigate the threat of terrorism to their businesses.

"For more complex businesses or locations, liaison with the police and neighboring businesses will help identify whether additional measures are required. Undertaking more informed assessments will help analyze the risks in greater detail and will ensure critical vulnerabilities are identified," Coates asserted, stressing its importance in the current easing of lockdown where many businesses are serving customers outside.

Special Reports /

Retail and hospitality sectors face rising terrorist threats

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