The Geneva Association CEOs’ Forum, held on 15 September 2020, brought member CEOs together in a virtual setting for the first time in the Association’s history.

Like many industries, insurance underwent a ‘trial by fire’ with the disruption brought on by COVID-19. Insurers moved quickly to protect their employees, proactively support their customers – further digitising their operations to provide uninterrupted service – and to engage with governments on joint responses and collaborative efforts.

Cyber risk is one of the most pertinent global threats facing the world today. With firms’ and individuals’ reliance on technology only set to increase, the frequency and severity of cyber incidents is likely to rise in turn. The cyber insurance market is set to undergo significant growth in the coming years, accelerated by increasing levels of liability and data protection regulation.

An Investigation into the Insurability of Pandemic Risk

- Life and health risks for pandemics similar to COVID-19 are insurable: they are generally non-systemic and modellable.

- Property & casualty (P&C) insurers, on the other hand, would have to collect business interruption policy premiums for 150 years to make up for projected global output losses in 2020 related to COVID-19.

Presenters in this #RiskConversations webinar, held 22 September 2020, expounded two key takeaways of The Geneva Association’s report, The Role of Insurance in Mitigating Social Inequality:

1) Specific types of insurance cover, existing and emerging, mitigate the risks of impoverishment and/or contribute to more stable levels of wealth and income.