The rapid global spread of COVID-19 and the steps taken to limit contagion are having a significant impact on the global economy and, consequently, on the financial system. Insurance has an essential role to play during a pandemic event such as COVID-19, providing protections to individuals, households and businesses.
Insurers are exposed on both sides of their balance sheets; on the liability side because of changes to interest rates as well as the potential increase in claims and on the asset side due to market volatility. Insurance supervisors should remain vigilant in terms of the financial soundness and operational resilience of insurers, in support of the protection of policyholders and the maintenance of financial stability.
Topics for discussion:
Impact of Covid 19 on the insurance industry: Which lines of business will be most affected? How can the insurance industry avoid reputational risk? Is it likely that will be an increase in premiums? Are there differences between the EU and the US? Is there a need for a private/public pandemic fund?
Impact of Covid 19 on insurance intermediaries: Will there be further consolidation in the broker market? Will brokers find themselves in liquidity problems? Will brokers suffer from reputational risk because of a lack of responsiveness from the insurance industry?
Supervisory challenges: Was it right for EIOPA to call on insurers to stop dividend payments? Have supervisors been sufficiently responsive to the problems caused by insurers not compensating policyholders? What further actions should supervisors take? Are different actions needed for different lines of business? Is there a need to rework mortality tables?
Impact on consumers: Who is picking up the losses? Has the insurance industry delivered on its promise?
Insurane companies, insurance intermediaries, Insurance Supervision Agency, Ministry of Finance, National Insurance Bureau.
Higl level representatives from the insurance industry associations and Insurance regulatory and supervosory authorities from the South Eastern Europe.
- Prof. Karel Van Hulle - KU Leuven and Goethe University Frankfurt - moderator
- Prof. Jean Kwon, St. John University, Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science, NY, USA
- Juan Ramon Pla - Chairman of European Federation of Insurance Intermediaries
- Gorazd Cibej - Director of the Insurance Supervision Agency of Slovenia
- Hrvoje Paukovic - Managing Director of the Insurance Association of Croatia
- Anna Maria D'Hulster - Member of the Supervisory Board at UNIQA Insurance Group and Member of the Board of Directors at Athora Holdings
- Introduction : Prof. Klime Poposki, University of St. Kliment Ohridski, insurance department, Ohrid and Member of the Economic Chamber of Macedonia's Assembly.
- guideline for webinar access (after your registration)
- WebEx conference platform will be used
No limits in the number of participants.
Registration deadline: 13.5.2020.