STATISTICS:

New York, CsocD56's side event conclusions: The need to close the NatCat protection gap is greater than ever

Monday 5 February 2018, hosted by BJD Consulting at the United Nations Headquarters in New York, a Side-event to the 56th Commission for Social Development 2018 took place with the priority theme "Closing the protection gap for all".

The event was organized with the support of IIS - the International Insurance Society while XPRIMM Publications offered their media support.

Chaired by H.E. Mrs. Louise KANTROW, Former Permanent Representative & Observer to the United Nations for the International Chamber of Commerce, the meeting benefitted from the contribution of an exquisite team of speakers: Mike MORRISSEY, President & CEO, International Insurance Society (IIS) - Committee Member, Insurance Development Forum (IDF), an IIS initiative supported by the World Bank and The United Nation, Thomas HOLZEU, Chief Economist, Swiss Re Americas - Shin Research Excellence Award for research on natural catastrophes protection gap, Jonathan MINTZ, President & CEO, Cities for Financial Empowerment Fund, Inc, Chloe DEMROVSKY, President & CEO, Disaster Recovery Institute International, Aris PAPADOPOULOS, Founder & Chair, Resilience Action Fund - Board Member, UNISDR-ARISE Private Sector Partnership.

As stated by Bogdan J. DUMITRESCU, Founder & CEO of BJD Reinsurance Consulting, Organization in Consultative Status with the Economic and Social Council of the United Nations in the event's opening address, there is no doubt that "the insurance protection gap is widening. A major part of economic losses from natural hazards remain uninsured. Growing evidence indicates that countries with greater penetration of insurance coverage have faster economic recoveries from disasters and rebuild with greater resilience to future disasters. The role of insurance is paramount."

He also emphasized that although "the world has never been as generous in providing resources to support people around the world affected by disasters, never before has the need been so great. More people, assets, infrastructures and activities are at risk from disasters, natural hazards and climate change than ever before, and the risk is accumulating at an unprecedented rate, threatening efforts to sustainably reduce poverty."

All the above considered, "BJD Reinsurance Consulting supports the Governments and the global insurance industry common action that offers new perspectives and ideas on disaster resilience, mitigation, recovery and protection. It does not focus on a single solution, region or challenge. Rather it aims to provide a clear rationale for change, a framework for action and a set of solutions that could be applied to the challenge. We hope this initiative catalyzes action and ideas around the world," DUMITRESCU said.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

Inclusive insurance on the agenda of the second CEE & SEE - Regional Actuarial Insurance Conference in Skopje, Macedonia

Insurance should be accessible to all social classes, regardless of their wealth and income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. The low insurance penetration rates across the region show the need for another approach.

2019-01-10

FIAR 2019: Register before 30 January and save 40% of the attendance fee

To the satisfaction of its traditional guests, FIAR returns in 2019 to its historical hometown, Sinaia. The forthcoming edition will benefit from the comfort and professional facilities of a new venue, the Conference Center of the International Hotel ****, located in the heart of the beautiful mountain resort. Registration is opened at a significantly discounted early bird rate until 30 January.

2019-01-10

ON THE MOVE

Lloyd's of London announced new members to the Council

Lloyd's of London announced that Albert BENCHIMOL and Victoria CARTER have been appointed respectively External member and Working member of the Lloyd's Council with effect from 1 February 2019. Michael WATSON, currently on the council, has been re-elected as External member.

15.01.2019

TOP EVENT

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all