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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:


BADEN- BADEN TODAY


Monday October 21, 2013


INTELLIGENT INSURER’S Baden-Baden Today IS     www.newtonmedia.co.uk


DIRECTOR AND PUBLISHER Nicholas Lipinski


YOUR CONTACTS IN BADEN-BADEN Mark Payne  Email: mpayne@newtonmedia.co.uk


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Nicholas Lipinski  Email: nlipinski@newtonmedia.co.uk


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Intelligent Insurer’s Baden-Baden Today are not necessarily those shared by the publisher,  true nature of the market, the editor has included articles from a number of sources, and the views   responsibility or liability is accepted by Newton Media Limited for any loss to any person, legal or physical, as   Intelligent Insurer’s Baden-Baden Today. This publication is 


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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


DAY 1


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