News Industry must refocus on its core risk transfer skills
(Continued from top of page 1) said that the industry is still covering the biggest risks that were relevant in the last century instead of moving forward and covering the
“The landscape for risk is undergoing substantial changes and the industry needs to respond.”
“The landscape for risk is undergoing substantial
changes and the industry needs to respond,” is through close cooperation between primary He too listed the many emerging areas of risk
where insurers and reinsurers barely participate at the moment and showed a slide illustrating the shift in the types of companies driving the global economy These companies have very different insurance “This is very different to the types of industries that the insurance industry has covered historically such
as construction, automotive, marine and manufacturing,”
He also questioned the industry’s inability
to cover risks such as terrorism and business Horgan from Zurich agreed with much of
He said that he estimates that Zurich only something that should represent an opportunity “The worlds of our clients have changed a
lot in recent years and we have not kept pace,” and outsourcing risks and trying to understand that picture and where the real risk should sit is they want that certainty and they want products that Albertini gave a different perspective
arguing that one of the paths to innovation is through greater collaboration with the capital markets so that many of the risks not insured Bolt echoed the thoughts of the other
are not being met by the industry and argued that, especially in such a competitive market with rates softening, insurers and reinsurers should be looking beyond conventional risks to
Lord Mayor Gerstner welcomes reinsurance industry
(Continued from bottom of page 1) visitors they and improvements are happening all the time, “As early as the 19th century, Baden-Baden
was already being called the summer residence sophisticated guests from all over the world “For our loyal and long-time congress guests
the convention centre as well as the Kurhaus “The Brenner’s Park-Hotel & Spa is investing millions and the hotel Europäischer Hof will we certainly hope that our endeavour will be
Gerstner added that the town goes out of its
way to ensure the conference occurs smoothly every year for the reinsurance industry, with bookings and reservations being held many years “The successful cooperation between the local hotels, the gastronomy and the conference facilities in Baden-Baden cannot be found in conference are scheduled well in advance and even the most attractive enquiry for the same allows us to guarantee the smooth feasibility of Other major events also come to Baden-
describes the town as a “place of international royal personalities to politicians to business
2 | BADEN-BADEN TODAY | DAY 1: Monday October 21 2013 Powered by:
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Monday October 21, 2013
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people have met in the city of Baden-Baden “Baden-Baden is known worldwide as the
The many unique attractions Baden-Baden
offers include two thermal spas, Europe’s second largest opera and concert hall, the Museum Frieder Burda, a theatre and casino, and the Kurhaus and In addition to these, it is home to top class
city centre and its remarkable picturesque location
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21.10.13 MONDAY
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