SLOVENIA: Insurance Days in Slovenia - insurance industry is robust and perfectly manages risks

17 June 2024 — Marina MAGNAVAL
The 30th Anniversary Insurance Days in Slovenia, organized every year by the Slovenian Insurance Association, were held on June 6-7 at the Grand Hotel Bernardin. This year's event had the slogan “Insurance matters”. It was focused on climate change, natural disasters, cyber threats, health insurance, and strengthening diversity, equity, fairness and inclusion.

One of the key topics was "Health insurance after health insurance". After the abolition of supplementary health insurance, Slovenian insurance companies faced a challenge of how to design new health insurance products. Prof. Petra Došenović Bonča, associate professor at the Faculty of Economics of the University of Ljubljana, pointed out the difference between different sources of expenditure, between out-of-pocket payments and collective financing. Voluntary health insurance is somewhere in between and is therefore also a certain form of solidarity.

Meta Berk Skok from Triglav, a health insurance company, pointed out that insurance companies are part of the public health system. "Although we have been talking mostly about supplementary health insurance lately, the fact is that supplementary insurance has also been developing for several years. Today, we have 450,000 health insurance policies in Slovenia", she emphasized, adding that this represents a good starting point for the development of this market, which the population also expects.

A special panel was dedicated to the challenges posed by cyber risks. Ivana Žolgar Olenik from Telekom Slovenije emphasized that the number of cyber-attacks is increasing every year, and the damage is doubling every year as well.

On the first day of the conference, the former executive director of the insurance corporation Lloyd's of London, Dame Inga Beale, was the keynote speaker: "Insurance must keep up with the times. It must innovate, develop products and take on new risks, as this is the only way to build trust and reputation", said the British guest.

The main event of the first day of the conference was a discussion on the role of insurance in society and the economy, at which the participants noted that less than a year has passed since the large-scale floods, and last year's disaster was a challenge for both the state and insurance companies. There’s an insurance gap, which is a problem in Slovenia and, according to the Minister of Finance Klemen Boštjančič, who was the guest of the central discussion, a special working group will be established that will focus on this issue. According to the minister, the insurance industry in Slovenia is robust and perfectly manages risks, the Association said in its post release.



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