The annual award celebrates women insurance leaders whose work positively impacts society and contributes to making insurance a force for good

ZURICH, 7 July 2021 – The 2021 Geneva Association Women in Insurance Award goes to Nina Arquint, Chief Risk Officer at Swiss Re Corporate Solutions, for her work and commitment to driving the reduction of coal underwriting. 

• In its new report, The Geneva Association offers a comprehensive projection of the risk landscape in the post-pandemic world, or ‘New Normal’, expounding the four most consequential shifts for insurers: accelerated digitalisation, ‘Big Government’, pivot to resilience and sustainability, and more remote working.
• The study draws on 25 interviews with experts and industry executives and on a 2021 customer survey of

2021 prize jointly awarded for two doctoral theses: one on the economics of health insurance plans and one on behavioural factors in insurance purchasing

• From Risk Transfer to Risk Prevention – How the Internet of Things is reshaping business models in insurance is a first-of-its-kind study of the paradigm shift in insurance to real-time risk prevention solutions, enabled by Internet of Things (IoT) technologies.
• Offering major benefits to both insurance retail and business customers, IoT has the potential to mitigate risks and encourage less risky behaviour.

• To support government-insurer discussions on how to close the protection gap for business interruption risk in the case of a pandemic, The Geneva Association has released Public-Private Solutions to Pandemic Risk, outlining four possible government-led schemes: 1) direct insurance, 2) reinsurance, 3) social insurance and 4) post-event protection.

• The first report in this series,

• The Geneva Association has mobilised experts from 17 of the world’s largest P&C and life insurers*, representing the companies of its CEO members, to develop and hone climate risk assessment methodologies and tools for the insurance industry.

• The first report of the task force presents an integrated decision-making framework for climate risk assessment that considers four dimensions: 1) business line (P&C versus life);

• A new Geneva Association report gives a full view of flood risk management (FRM) in Canada, providing evidence of reform, such as new insurer-government collaborations to address the challenge.
• The insurance industry is supporting communities and households to reduce their flood risks, and the federal government has taken the first step towards a National High Risk Residential Flood Insurance Program.
• The report points to the

7 December 2020 – Flooding is Australia’s costliest natural hazard-related cause of disaster when both tangible and intangible losses are taken into account.

ZURICH, 3 December 2020 – The Geneva Association announces two new senior staff members, Darren Pain and Jianzhong Yao, to enhance both the scope and reach of The Geneva Association’s activities. Darren will head the organisation’s newly established Evolving Liability research programme, and Jianzhong has started as The Geneva Association’s key liaison with China.

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.