REINSURANCE
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NARROWING THE PROTECTION GAP Natural disasters are on the rise in Asia Pacific, making insurance unaffordable in some areas. Here, we examine some of the strategies (re)insurers can use to help communities get the cover they need. IN SHORT › An increase in the number and severity of natural disasters is making insurance unaffordable in some areas of the Asia-Pacific region.
› There are various solutions to the problem, including reinsurance pools, parametric products, big data, reducing transaction costs and mitigation strategies.
› Most involve some level of cross-subsidy, and there’s no one-size-fits-all solution. Experts say a combination of risk mitigation and management will build resilience.
Photography: iStockphoto
JOURNAL // ISSUE 03 2021 // ANZIIF.COM
