Online debate discussed the impact of COVID-19 on the insurance and occupational pensions sectors in Europe
On 16th September the Florence School of Banking and Finance hosted the online debate “Mitigating the impact of COVID-19 on the insurance and occupational pensions sectors in Europe” moderated by Elena Carletti (Bocconi University and Florence School of Banking and Finance, EUI) and with the participation as speaker Gabriel Bernardino, (Chairman of the European Insurance and Occupational Pensions Authority – EIOPA) and as commentators Roel Beetsma (University of Amsterdam) and
Giuseppe Corvino (Associate professor of financial markets and institutions, Bocconi University).
The Coronavirus pandemic has wrought havoc on households, businesses and the economy. Insurance companies and pension fund providers had to rapidly adapt and take steps to maintain business continuity and services to customers, whilst also ensuring the safety of employees.
This debate covered the measures put in place by supervisors and regulators to reduce the burden on insurance companies and pension funds and described how the regulatory frameworks to set up to ensure the stability of the sectors fared in withstanding the shock.
The debate also discussed how to close protection gaps and the case for pandemic insurance; what the accelerated take up of digital technology by consumers means for business models and communication; and, most importantly, the role of the insurance and pensions in underpinning Europe’s recovery.