EU Regulator Sketches Out Plans For Pandemic Reinsurer
Law360, London (July 28, 2020, 3:30 PM BST) -- Europe's insurance watchdog has outlined options for tackling the insurance crisis caused by the COVID-19 pandemic, including the creation of a regional reinsurance pool backed by guarantees from the European Union.
The European Insurance and Occupational Pensions Authority published a discussion paper on Monday sketching out ways in which the private and public sector can work together to create "shared resilience solutions."
The report comes amid widespread calls from trade bodies and insurers for a state-backed reinsurance solution to future pandemic risks.
EIOPA said such a solution would depend on the willingness of insurers to have "skin in the game" and...
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