29 Jul Pandemic planning given helping hand
Reactions: Financial Intelligence for the Global Insurance Market: 22 July 2016
A US firm is looking to give the long-struggling re/insurance industry a helping hand in trying to manage and mitigate the threat posed by pandemic.
The lack of models to better understand the risks associated with the spread of pandemic illness has tended to dissuade the re/insurance industry from providing financial products to countries and companies exposed to the peril.
But there is a growing acceptance that the re/insurance industry and the capital markets can play a far more prominent role in assisting governments as well as the private sector in helping some of the poorest countries in the world to overcome the financial consequences of fighting pandemics.
The will is certainly there from the re/insurance industry. The intense competition that resides within many lines of insurance and reinsurance business continues to put pressure on rates, and as such underwriters are looking for any opportunity to expand their sources of income. Providing some sort of financial protection against pandemics and the like would grant re/insurers such an opportunity. READ MORE…