Why can’t a pandemic be insured by private insurers alone? Because a large number of loss events occur at the same time across the globe. The risks cannot be diversified or reinsured, as our latest explanatory video shows.
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The Swiss government is currently working on a ‘pool solution’ to cushion the economic impact of future pandemics. Ivo Menzinger has worked on the possible structures for the solution.
In this extraordinary year, the insurance industry paid out an estimated total of CHF 1 billion in claims to policyholders in Switzerland in the context of losses related to Covid-19.
Population growth, global mobility or ecological changes increase the risk of pandemics. Is pandemic risk insurable? The answer is, only with governance participation.