Insurers not only assume risks that cannot be borne by individuals and/or corporations. They are also major employers, taxpayers and investors and, as such, of great importance for the economy.
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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.
Population growth, global mobility or ecological changes increase the risk of pandemics. Is pandemic risk insurable? The answer is, only with governance participation.
The need for safety is a fundamental human need. The Swiss are a very safety-minded nation, spending more money on insurance than any other.
Risks that individuals or corporations cannot or will not bear themselves, are being transferred to insurers which subsequently cover eventual losses.