Insurance against pandemic risk: EIOPA identifies options for shared resilience solutions

Today the European Insurance and Occupational Pensions Authority (EIOPA) published its Issues Paper highlighting options for developing shared resilience solutions for pandemic risk.

Metadata

Provider:

URL:

https://www.eiopa.europa.eu/content/insurance-against-pandemic-risk-eiopa-identifies-options-shared-resilience-solutions_en

Retrieved on:

Tuesday, July 28, 2020

Information

Tags:

European Insurance and Occupational Pensions Authority, European Union, Insurance regulation, Government agencies, Insurance, Psychological resilience, Articles, Government

Summary

Key Points:

Today the European Insurance and Occupational Pensions Authority (EIOPA) published its Issues Paper highlighting options for developing shared resilience solutions for pandemic risk.
The paper recognises that private insurance solutions alone will not be sufficient to protect society against the financial consequences of future pandemics.
As a next step, the scope of the shared resilience framework could be expanded to consider further resilience gaps stemming from systemic cyber, climate change impacts in natural catastrophes and terrorism.
In developing this paper, EIOPA consulted the insurance and reinsurance industry, as well as commercial insurance buyers and insurance brokers and distributors.