Insurance is key to mobilising long-term capital for climate risk-resilient infrastructure

The insurance industry plays a key role in de-risking infrastructure and mobilising long-term private capital to climate risk-resilient projects, agreed a group of decision makers and international experts summoned in Toronto by The Geneva Association.

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Insurance in the Digital Age

A view on key implications for the economy and society
Technology and new data sources are changing our economy and society fundamentally, and promise to transform the insurance industry as well. Digitalization is changing the role of insurance, from pure risk protection towards predicting and preventing risks. The risks insurers cover and the ways they underwrite, distribute, and manage claims are also changing.

Infographic: Enhanced insurance capabilities to handle cyber accumulation risk

The unique characteristics of cyber risk imply that exposure measurement and modelling approaches that have been developed for other perils cannot easily be transferred to cyber risk. The insurance industry has made progress in developing the technical capabilities to handle these distinct characteristics of cyber risk, but there is still some way to go.

Growth of cyber insurance market should not be taken for granted; accumulation risk a key concern

Cyber insurance offerings and premium volumes have expanded sizeably. Keeping up with demand is challenging and sustainable growth in the cyber insurance market should not be taken for granted, as accumulation risks need to be addressed in the context of a hyperconnected digital world.

Also of interest:

Advancing Accumulation Risk Management in Cyber Insurance

Advancing Accumulation Risk Management in Cyber Insurance

Prerequisites for the development of a sustainable cyber risk insurance market
Although cyber risk premiums have expanded sizeably in recent years and loss ratios compared favourably relative to other product lines, sustainable growth of the cyber insurance market should not be taken for granted. A report issued by The Geneva Association identifies three prerequisites that must be met to ensure sustainability.

Annuitisation as an insurance solution to people outliving their retirement savings

The risk of people outliving their retirement savings represents a threat to their standard of living, meaning many could lapse into poverty; however, the annuitisation of occupational pension assets represents an insurance solution to this societal issue, according to a new study released today by The Geneva Association.

Read the report: Annuitisation: Retirement Income That Lasts a Lifetime

Annuitisation: Retirement income that lasts a lifetime

An insurance solution to people outliving their retirement savings
Government-supported social retirement plans (Pillar I) are under extreme financial pressure due increased life expectancies and low fertility rates. Individuals are compelled to provide for themselves a suitable retirement through occupational pensions (Pillar II) and personal savings (Pillar III).

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