In this episode of A.M. BestTV executives discuss how past pandemics
would impact the insurance industry today, and why it remains a top
concern for insurers among extreme risks. Alessandro Santoni, a director
at Towers Watson, said a recent company survey of global insurance
industry executives ranked global pandemic as the most important extreme
risk to worry about in the long term. Three pandemics struck in the 20th
century, in 1918, 1957 and 1968. The 1918 pandemic killed an estimated
50 million people worldwide. Life insurers say they're prepared to
handle pandemic risk through reinsurance, and Steven Weisbart, chief
economist at the Insurance Information Institute, said insurers could
also tap the capital markets. "The capital markets are highly
mathematically oriented, they are used to modeling of this kind, so yes,
this is very much the kind of thing that might result in several cat
bond-type vehicles," Weisbart said. Click on http://www.ambest.com/v.asp?v=pandemic314
to view the program.
People who appear in this episode include:
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