The latest enterprise risk management news from around the world

Insurance against pandemic risk: options for shared resilience solutions in the EU

The European Insurance and Occupational Pensions Authority (EIOPA) has published an Issues Paper highlighting options for developing shared resilience solutions for pandemic risk. The paper recognises that private insurance solutions alone will not be sufficient to protect against the financial consequences of future pandemics. Solutions will require both public and private sector involvement, and build on the following four key elements:

  • Proper risk assessment
  • Risk prevention and adaptation measures
  • Appropriate product design
  • Risk transfer.

The options include different insurance models and coverage, for example whether cover should be mandatory, and whether payouts should be based on a pre-agreed parameter or index. The options also include different ways the public and private sectors could work together, for example establishing an EU-expert group for data sharing and risk modelling, and creating a platform for public and private coordination on prevention measures. Different potential roles are considered for how the European Union can contribute towards solutions.

As a next step, the scope of the shared resilience framework could be expanded to consider further resilience gaps stemming from systemic cyber, climate change impacts in natural catastrophes and terrorism.

Read the paper.



Want news and features emailed to you?

Signup to our free newsletters and never miss a story.

A website you can trust

The entire Continuity Central website is scanned daily by Sucuri to ensure that no malware exists within the site. This means that you can browse with complete confidence.

Business continuity?

Business continuity can be defined as 'the processes, procedures, decisions and activities to ensure that an organization can continue to function through an operational interruption'. Read more about the basics of business continuity here.

Get the latest news and information sent to you by email

Continuity Central provides a number of free newsletters which are distributed by email. To subscribe click here.