Mario De Cicco, Vice President of Global Insurance & Pension Ratings, and Marcos Alvarez, Managing Director of Global Financial Institution Ratings at Morningstar, a provider of independent investment research and financial data, explore the growing insurance protection gap in Europe caused by climate-driven natural catastrophes.
Drawing on insights from the European Insurance and Occupational Pensions Authority (EIOPA) and the European Central Bank (ECB), they discuss the potential benefits of an EU-level insurance scheme to reduce the gap and strengthen financial stability in the face of increasingly severe disasters.
The need for a coordinated, EU-wide approach to insurance is pressing, especially as national systems struggle to keep pace with the rising financial risks posed by natural catastrophes.
FULL ORIGINAL PUBLICATION HERE
