Climate risks have always produced high impact events, causing material and human losses that often have remained in collective memory as reference points; yet, in the recent years their catastrophic nature became increasingly threatening for the communities’ resilience. By comparison, cyber risks are just emerging, but they are demonstrating already a potentially catastrophic impact which still needs to be better understood and assessed.
One of the main common elements in this comparison are the insufficient preparedness and public action taken to mitigate them, as well as the significant insurance coverage gap. In both cases, the insurance industry may play a significant role not only in covering financial losses, but also in helping public authorities and other interested bodies to better asses and manage risks.
IIF 2019 – PROPERTY INSURANCE – the 2 CAT Cs: climate and cyber will address the above issues, also focusing on the role that the latest technologies may play in helping the industry to deal with the current and future challenges, thus better serving its customers.