The Australian Reinsurance Pool Corporation (ARPC) has joined a forum set up to promote greater collaboration between the world’s terrorism reinsurance pools.

The International Forum of Terrorism Risk (Re)insurance Pools was unveiled at the ARPC-OECD Global Terrorism Risk Insurance Conference last week in Canberra.

Other pools joining the forum include the UK’s Pool Re and France’s GAREAT.

“It is important that we collaborate with other terrorism reinsurance pools that share our vision of the vital role pools play in underpinning economic resilience,” ARPC CEO Chris Wallace said.

“I also hope the forum can be part of a more robust international response to the evolving terrorism threat.”

Pool Re CEO Julian Enoizi says the forum’s establishment is a “defining moment” that “offers the potential to alter how the insurance industry protects against, and responds to, acts of terrorism across the globe”.