Part of a comprehensive review of flood risk management in five mature economies, this report reveals many successes in the Australian system, including high-quality national and state guidelines and frameworks for FRM activities, climate change adaptation efforts, a commitment to building back better and high levels of insurance penetration.
Part of a comprehensive review of flood risk management (FRM) in five mature economies, this report looks at the system in Canada.
This special virtual event on 19 November 2020, moderated by Jad Ariss, Managing Director of The Geneva Association, featured a conversation with three women insurance leaders on the power of intrapreneurship to promote innovation and address gender imbalance in the insurance industry.
Cyber risk is one of the most pertinent global threats facing the world today. With firms’ and individuals’ reliance on technology only set to increase, the frequency and severity of cyber incidents is likely to rise in turn. The cyber insurance market is set to undergo significant growth in the coming years, accelerated by increasing levels of liability and data protection regulation.
An Investigation into the Insurability of Pandemic Risk
- Life and health risks for pandemics similar to COVID-19 are insurable: they are generally non-systemic and modellable.
- Property & casualty (P&C) insurers, on the other hand, would have to collect business interruption policy premiums for 150 years to make up for projected global output losses in 2020 related to COVID-19.
This first report in our research series on pandemics and insurance explores, in number terms, the capacities of insurers to absorb pandemic-related costs. Encouragingly, research findings indicate that pandemics on the scale of, and similarly lethal to, COVID-19 pose no fundamental insurability challenges for health and life insurers. In the commercial insurance arena, however, the uncontrollable aggregation and correlation elements of pandemic risk defy insurability.
