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G20 Insurance Forum to outline insurers’ role in tackling global challenges

26th September 2018 - Author: Charlie Wood

A series of discussions are due to take place in Argentina this week as the G20 Insurance Forum examines the role of insurers in tackling global challenges.

G20 Insurance ForumThe forum’s first session will examine insurers’ role in boosting resilience and stability in society, and the part insurers play in food security and agricultural issues.

“Insurers already play a vital role in supporting resilience and stability in all sectors of the global economy, including agriculture. It is vital, however, to find ways to extend that protection to as many people as possible,” stated Recaredo Arias, Vice President of the Global Federation of Insurance Associations.

The second session, which Arias will chair, looks at ways to promote long-term and sustainable investment in infrastructure.

“Insurers are in the business of making long-term and sustainable investments, including those in infrastructure,” said Arias.

“This corresponds to the needs of governments, who are increasingly seeking to attract private infrastructure investment to relieve pressure on public resources.”

The third session examines how insurers are responding to cyber risks and the digitisation of society, as more people buy insurance online and using their mobile devices.

“Insurers are working harder than ever to remain at the forefront of the digital revolution and to provide products in a convenient and secure way to their online customers,” added Arias.

The final sessions will focus on the role of international reinsurers in an increasingly globalised economy, with Arias commenting that reinsurers are “vital in a modern, globalised economy, due to the role they play in ensuring that insurance remains available and affordable.”

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