IIS Global Insurance Forum: Disaster reseliency requiring closing the insurance protection gap

Spreading understanding of the central role that proper insurance has in building disaster resiliency is the theme of the International Insurance Society's (IIS) Global Insurance Forum. XPRIMM is Media Partner of the Forum. Follow us to get live insights from the event's proceedings.

After any natural or manmade disaster, the speed of recovery is affected by two things: the amount of damage sustained and the preparedness initiatives undertaken well in advance of the event. How well any entity or individual bounces back after an adverse situation is a gauge of financial resilience, and insurance is an essential tool in improving the odds.

The forum will is held at the Park Plaza Westminster Bridge Hotel in London, starting today through Thursday, July 20, and brings together more than 500 insurance leaders from more than 40 countries. The wide-ranging discourse covers considerable ground, with a focus on amplifying public understanding of insurance as a resiliency tool. 

Given that both natural and manmade disasters are occurring with increasing frequency, the costs of those events can bring immediate and lingering negative effects on governments, communities, businesses and individuals. Proper insurance mitigates the impacts. Expert panels at the forum will address the challenge of encouraging vulnerable populations to purchase the proper insurance coverage and the misperceptions and misunderstanding involved with an overreliance on limited government aid.

"Major disruption is occurring in everything from natural, weather-related events to technological advancements to ever-present cybercrime, and those forces are driving unprecedented change in the insurance industry," said Mike MORRISSEY, IIS President & CEO. "This forum gathers thought leaders, innovators and stakeholders to provide the insights necessary to channel disruption, adapt to it and help the industry to continue to thrive."

Aligned with the topic of resiliency is sustainable development, which will be the keynote address on July 20. Sustainable development means economic growth without sacrificing natural resources, with the desire to address present needs without compromising future needs. The Insurance Development Forum (IDF), a public/private partnership led by the insurance industry and supported by international organizations, brings together a panel that will include Stephen CATLIN, IDF chairman, Joaquim LEVY, managing director and CFO of World Bank Group, and Jo SCHEUER, director of climate change and disaster risk reduction for the United Nation's Development Programme.

"Under-insurance is a global problem, and it necessitates considering its implications in all nations, but particularly in developing economies," said Stephen Catlin, IDF chair. "Sustainable development is not an option but a requirement, as it keeps health and wellbeing as cornerstones to conversations about creating a sustainable infrastructure. No single organization, company or individual can solve these challenges alone. Collaboration and partnerships created and nurtured at the forum keep the momentum moving forward."

Additional topics at the forum include presentations from executives, academics and policymakers on issues ranging from climate and extreme events to cyber risks. The IIS Global Insurance Forum agenda is available on the IIS website, as well as a list of speakers.

Related articles

The 9 GDPR checkpoints according InsuranceEurope

GDPR is around the corner, InsuranceEurope says, drawing attention to the fact that it is the time for final checks by insurers. The association has publi9shed on its own website an overview of insurers' obligations under the General Data Protection Regulation.

2018-05-24
photodune-3834701-laughing-girl-xs

Andreas BRANDSTETTER named President of Insurance Europe

Andreas BRANDSTETTER, the CEO and Chairman of Austria's UNIQA Insurance Group, has been elected President of Insurance Europe, the European insurance and reinsurance federation, for a term of three years. He will give a keynote speech today, 24 May, at the federation's 10th International Conference.

2018-05-24
photodune-3834701-laughing-girl-xs

VIDEO INTERVIEW: Matti LEPPALA Secretary General and CEO PensionsEurope Chair of OPSG, EIOPA

Demographic change is challenging for all European countries, especially for the CEE countries. It will be a very huge challenge for the public finances and for the public pensions to adapt and survive this change. Public pensions systems were much reformed to insure sustainability, but the benefits are obviously less generous, so adequacy remains a big issue. Saving for retirement becomes a very important necessity for EU citizens. Increasing the coverage in pension savings must be a priority for each state, Matti LEPPALA, Secretary General and CEO, PensionsEurope, Chair of OPSG, EIOPA stated for XPRIMM.TV.

2018-05-17

ON THE MOVE

TOP EVENT

FIAR 2018 - Motor Insurance Conference (I & II): with the right use of technoloogy, clients' expectations and MTPL insurer's profitability may go hand in hand

The first and second parts of the Motor Insurance Conference taking place at FIAR 2018 focused on the new MTPL Law in Romania and the way it changed the market after almost 1 year of implementation, as well as the consequences of the new legislative framework and the operational challenges this brings, but also the most suitable solutions for balancing regulation, insurers' appetites and customer expectations on the MTPL market.

16.05.2018

FIAR 2018: Brokers' Conference (II): digitization and technology are needed for efficient operations, but will not replace the human touch in consultancy

The second part of the Brokers' Conference taking place at FIAR 2018 analyzed the impact of European Union's legislative overhaul - IDD & GDPR -, also bringing into debate study cases and real-life scenarios of what the brokers face on the market, and, last but not least, trying to see whether digitization and InsurTech could truly lead to disintermediation.


15.05.2018

Brokers' Conference (I): Until 1 July, when we will see the final version of the IDD, we cannot say for certain if we are ready and how ready we actually are

The second day of debates at FIAR 2018 started with The Brokers' Conference, the event dedicated to the mediation market in Romania and in the CEE region. The first part of the conference focused on a market overview and also analyzed the challenges of the IDD implementation, as well as the potential impact of IPID for MTPL and PAD.

15.05.2018

INSURANCE IN A DIGITAL WORLD Conference: capacity, consistency and culture are the three key success factors in the digital transformation of insurers

The INSURANCE IN A DIGITAL WORLD Conference, taking place at FIAR 2018, brought into debate the impact of digitization on the insurance industry. The first part of the conference focused on risks & opportunities of digitalization for both industry and consumers, as well as case studies and best practices: BigData & IoT, BlockChain, Peer-to-Peer, and AI.

14.05.2018

Insurance Market Trends Conference (II): GDPR and IDD, European regulations affecting all business lines, as well as the compliance with the Solvency II framework, are the main challenges ahead for the Romanian market

During the second part of the Insurance Market Trends Conference, taking place at FIAR 2018, the debates focused on the current situation in Romania and the sustainable development for a growing and stable insurance market, as well as the challenges and opportunities for the local insurers.


14.05.2018

See all