INTERVIEW RMS: Ciara and Dennis spotlight Europe’s widening protection gap
25-02-2020
Coronavirus will highlight the protection gap in China
05-02-2020
Shutterstock/3dkombinat
Closing, or at least narrowing, the protection gap can seem like an insurmountable task as new breaches appear while existing ones prove tricky to pin down. But, say experts, including a director at The Geneva Association, addressing the gap is essential to preserve the integrity of the industry. Intelligent Insurer reports.
“Protection shortfalls in healthcare are even more pressing than in the natural disasters space which naturally receives most of the media attention.” Kai-Uwe Schanz deputy managing director and head of research and foresight at The Geneva Association.
· $100 billion in catastrophe losses remain uninsured year after year
· Major cat events of March 2019 highlighted protection gap vulnerabilities
· Cyber protection gap 'close to 100 percent'
· 'Less than satisfactory levels of trust' in insurers allows gap to endure
The protection gap is a problem that is often described as perennial, but getting a better grip on the issue is crucial for the future credibility of the re/insurance industry, says Kai-Uwe Schanz, deputy managing director and head of research and foresight at The Geneva Association.
To continue reading, you need a subscription to Intelligent Insurer.
If you have already subscribed please login.
There is a high chance your organisation has a subscription to us, to check if that is the case and for us to add you to that existing agreement please contact efield@newtonmedia.co.uk
protection gap, insurance, Schanz, Geneva Association, natural catastrophe, healthcare, trust, cyber, climate, hurricane, floods, Aon
