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Retail and small business policyholders report high satisfaction level

Retail and small business policyholders report high satisfaction level
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From Big Government to remote working, pandemic shifts bring fundamental changes for insurance, says The Geneva Association

To protect businesses from pandemic risk, governments need to be insurers of last resort : new Geneva Association report | News

- The first report in this series,  An Investigation into the Insurability of Pandemic Risk, revealed that business interruption risk is uninsurable by insurers alone: compared to projected global output losses of more than USD 4 trillion for 2020 due to the pandemic, the global P&C insurance industry collects USD 1.6 trillion in annual premiums, with just an estimated USD 30 billion for business interruption policies. - Capital at risk makes it impossible for private insurers to offer meaningful pandemic business interruption coverage, but they can make important non-risk bearing contributions that leverage their expertise in risk assessment, risk mitigation and claims management. 

To protect businesses from pandemic risk, governments need to be insurers of last resort : new Geneva Association report

To protect businesses from pandemic risk, governments need to be insurers of last resort : new Geneva Association report 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, An Investigation into the Insurability of Pandemic Risk, revealed that business interruption risk is uninsurable by insurers alone: compared to projected global output losses of more than USD 4 trillion for 2020 due to the pandemic, the global P&C insurance industry collects USD 1.6 trillion in annual premiums, with just an estimated USD 30 billion for business interruption policies. - Capital at risk makes it impossible for private insurers to offer meaningful pandemic business interruption coverage, but they can make important non-risk bearing contributions that leverage their expertise in risk assessment, risk mitigation and claims management.

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