UM Association (Special Risks) Ltd is a sector owned mutual specializing in the provision of terrorism cover in respect of Material Damage and Business Interruption risks.
As a discretionary mutual organisation formed in 1993, UMSR is a company limited by guarantee with no share capital.
Members have effectively made savings in excess of £25m against the cost of terrorism insurance premiums.
Our membership has grown from an initial 29 members to the 110 our scheme now covers, with combined declared property values in excess of £52 billion.
The changing patterns of terrorist activity have seen the UK Government’s Terror Threat Warning continually hover between ‘severe’ and ‘critical’ in recent years.
It is an environment in which universities have needed to consider the full impact of potential attacks on their physical assets, alongside their associated wider liabilities. The formation and success of this mutual solution is an unparalleled example of mutuality at its best.
