The financial risk of facing the costs associated with future needs for long-term care (LTC) is still largely underinsured. In fact, the cost of LTC can even be catastrophic, resulting in ruin for a number of elderly people and their families. Financing LTC risk is therefore becoming a pressing issue for many countries confronted with an ageing population and growing LTC needs.
Public-private partnerships are necessary to fund the USD 6.3 trillion required annually until 2030 to close the global infrastructure gap, says Mami Mizutori, Special Representative of the UN Secretary-General for Disaster Risk Reduction.
Investors and government should look at the full life cycle of infrastructure projects. Low-carbon infrastructure is not more expensive to build and maintain, says Joachim Levy, Managing Director and CFO of the World Bank Group.
The biggest hurdle the industry faces for measuring climate risk is agreeing on the underlying scientific assumptions, says Ernst Rauch, Global Head Climate & Public Sector Business Development at Munich Re.
Responsibility for preparing for retire
The report ‘Healthcare in Emerging Markets: Exploring the Protection Gaps’ analyses the health protection gap as out-of-pocket spending that is financially stressful for households. The Geneva Association estimates the annual health protection gap in emerging markets at about USD 310 billion, or approximately 1% of these countries’ aggregate gross domestic product.
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Policymakers in emerging markets should harness private insurance as a means for an efficient transition to pre-funded healthcare schemes, says Kai-Uwe Schanz, Director Protection Gaps.
Current estimates don’t capture the costs of lack of access to medical services and the healthcare financial burden shifted from governments to households, says Kai-Uwe Schanz, Director Protection Gaps at The Geneva Association.
People in emerging markets are finding it difficult to fund their healthcare needs. Health protection gaps in emerging markets require flexible and creative responses from the private health insurance industry that address the needs of vulnerable people who have so far been denied suitable and affordable access to healthcare.
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