In this edition of WRIN.tv’s Wide World of Risk, Mike Morrissey, President and CEO of the International Insurance Society, provides insight from his discussions with insurance company CEOs the world over. He sites four recurring themes dominating the minds of CEOs, including cyber risk, environmental risks, humanitarian disasters and insurtech.

Mr. Morrissey says the “disaster aid mechanism that the world employs…is broken.” He says public-private partnerships are starting to develop ways to mitigate humanitarian disasters. The insurance industry and governments alike have come to realize that neither alone can solve these humanitarian and social issues.

In a spirit of cooperation, the global insurance industry, the United Nations and World Bank have come together to form the Insurance Development Forum (IDF), a public-private partnership also supported by a number of national organizations, non-government organizations (NGOs) and other private partners.

At the 53rd IIS Global Insurance Forum on July 17-20, IDF efforts including initiatives related to mapping and modeling and the world’s humanitarian systems will be presented by such dignitaries as the UK’s Secretary of State for International Development Priti Patel, Managing Director and World Bank Group CFO Joaquim Levy, Jo Scheuer, Director/Chief of Profession Climate Change & Disaster Risk Reduction, UN Development Program (IDF Co-Chair) and Stephen Catlin, Chairman of the IDF.

For more information on the IDF and the Global Insurance Forum, visit the IIS website.

 

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