Findings of the World Bank's study on the macro-fiscal impacts of earthquakes and floods in the EU presented in premiere at the Property Insurance Conference, on 22 April

8 April 2021 — Daniela GHETU
Several major earthquakes hit areas of the Central and Southeastern Europe in 2019 and 2020, impacting in particular Albania, Croatia and Turkey. Beside the economic and social shock, these events has shown once again the dimensions of the insurance protection gap in the region, a topic that will come under debate at the Property Insurance Conference, on 22 April.

Top professional will speak at the conference, sharing their views and experiences with regards to assessing and reducing the NatCat insurance gap in the region, bringing into discussion solutions and dedicated digital tools enabling insurers to better address NatCat risks.

Samantha COOK, Senior Financial Sector Specialist at the World Bank  Crisis and Disaster Risk Finance will present a preview of the findings of analysis conducted by the World Bank of the macro-fiscal impacts of earthquakes and floods in European Union (EU) Member States (MS) and an analysis of the existing financial instruments to manage this risk and how these can be strengthened going forward. Overall, it was found that financial instruments to manage disaster risk are limited in most of the MS and at the regional level, and that there is an urgent need to introduce insurance for households and public assets to help reduce the devastating impacts disasters pose to welfare, fiscal balance, and more broadly the economy.

The event will take in a virtual manner, hosted on the Zoom platform and live broadcasted on the XPRIMM YouTube channel on 22 April, 15.00 hours EEST.

Access is free of charge, based on registration.

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