EconPapers    
Economics at your fingertips  
 

COVID-19 Crisis and Resilience: Challenges for the Insurance Sector

Susanna Levantesi and Gabriella Piscopo

Advances in Management and Applied Economics, 2021, 1

Abstract: The main role of the insurance sector is the coverage of risks through pooling techniques. Against the payment of a premium, the insurance company compensates for unexpected losses, including catastrophic events and pandemics. However, differently from a catastrophic event, the COVID-19 pandemic has highlighted that the global impact on economic and financial activities is highly correlated. The insurance sector itself has been strongly affected both by the exponential growth of claims in the life and non-life sectors and by the negative impact on financial activities. Past experiences in pandemic risk management have been unsuccessful. This paper retraces the instruments issued following the past pandemics and tries to reflect on how the insurance sector can implement innovative solutions to support post-pandemic resilience. JEL classification numbers: G22. Keywords: COVID-19, Catastrophic risk, Insurance sector, Pandemic risk, Resilience solutions.

Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.scienpress.com/Upload/AMAE%2fVol%2011_7_1.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spt:admaec:v::y:2021:i::f:11_7_1

Access Statistics for this article

More articles in Advances in Management and Applied Economics from SCIENPRESS Ltd
Bibliographic data for series maintained by Eleftherios Spyromitros-Xioufis ().

 
Page updated 2022-06-19
Handle: RePEc:spt:admaec:v::y:2021:i::f:11_7_1