The Insurance Development Forum: Bridging the Insurance Protection Gap

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In this IIL London Market lecture, Stephen Catlin explained the purpose of the Insurance Development Forum and why the insurance industry must act now to share insurance and risk management knowledge with nations with natural catastrophe exposure but which lack this knowledge.

The lecture explained the mission of the Insurance Development Forum, established earlier this year by the insurance industry, the United Nations and the World Bank. The IDF’s priorities include:

• Building better understanding of natural disaster risk,

• Recommending appropriate insurance regulation and legislation to promote access to insurance,

• Promoting and designing public private partnerships and private sector initiatives that promote risk transfer, and

• Supporting governments in managing risk and design-in resilience in natural and man-made infrastructure.

By the end of this lecture members would have gained an insight into:

• Why the Insurance Development Forum is necessary;

• The reasons why the insurance industry must act to bridge the ‘coverage gap’; and

• How public-private partnerships can help mitigate the impact of natural disasters in nations where insurance penetration is currently low.

Speakers bio:
Stephen Catlin founded Catlin Underwriting Agencies Limited in 1984, which later became part of Catlin Group Limited. Stephen served as the Catlin Group’s Chief Executive throughout its history. He became Executive Deputy Chairman of XL Group in May 2015 upon the completion of XL’s acquisition of Catlin.

Chair: Russell Higginbotham FCII, Global Head of L&H Products, Swiss Re and President, Insurance Institute of London.

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