BELRIM/Lloyd’s Europe – Insurance protection gaps in Europe : state of play and perspectives
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There is a large consensus that the world suffers from widening protection gaps across several areas including health, pensions, and non-life insurance, particularly in the areas of Cyber and NatCat. While all regions in the world are under protected, Europe ranks low among the developed countries with more than EUR 200 bn of premium difference versus the US for Commercial Insurance related risks.
In the absence of drastic and rapid action, with new and (near-)systemic risks emerging, Europe’s protection gap in the area of complex non-life insurance would widen further, undermining governments’ ability to continue to sustain businesses and society, and exposing societies to trade tensions, environmental and societal disasters.
Most public debates centre on the range of supply and demand causes contributing to Europe’s growing protection gap. For example, on the supply side, the focus is on the availability of limited capital or because of outdated NatCat models. On the demand side, the focus tends to be on low client awareness about the benefits of insurance and on the existence of moral hazard caused by the state’s role as a guarantor or last – or first – resort.
But perhaps these are not causes per se, but the symptoms of broader issues.
The purpose of this interactive BELRIM-Lloyd’s event is to exchange views on where we are today and what the perspectives are.
Program:
- What : size of the non-life insurance protection gaps
- Why : review of potential causes
- How : are there solutions ?
- Conclusion – Q&A
Speakers:
Benoît Waltregny – Deputy CEO of Lloyd’s Europe
Venue
BeCentral, 12 Cantersteen -1000 Brussels
Timing: 4 p.m. till 7 p.m.
Registration required
