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A New World Post COVID-19

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Insurance Risk Management During Pandemics

Michalis Ioannides    Director of Credit and Market Risk, Europe, Canada Life Group; ICMA Centre, Henley Business School, University of Reading, UK    

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abstract

The insurance sector plays a key role in absorbing systemic risks under normal conditions and its role is particularly important in taking losses following a pandemic or natural catastrophe. Strong risk management and contingency planning frameworks have ensured that insurers and reinsurers are well capitalised to withstand the economic shock of a pandemic. An estimate of the current impact of the coronavirus puts losses at more than US $200 billion, half of which is attributed to general insurance business, and the other half is attributed to losses due to volatile investment markets.

Pubblicato
31 Luglio 2020
Accettato
30 Giugno 2020
Presentato
03 Giugno 2020
Lingua
EN
ISBN (EBOOK)
978-88-6969-442-4

Keywords: Pandemics • Solvency 2 • Solvency ratio • Business interruption risk • Credit default risk • Market risks

permalink: http://doi.org/10.30687/978-88-6969-442-4/018

Copyright: © 2020 Michalis Ioannides. This is an open-access work distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction is permitted, provided that the original author(s) and the copyright owner(s) are credited and that the original publication is cited, in accordance with accepted academic practice. The license allows for commercial use. No use, distribution or reproduction is permitted which does not comply with these terms.