As part of our thought leadership series ‘The Great Risk Transfer‘, the IFoA commissioned consultancy WPI Economics to research the merits of ‘Re’ models when it comes to the transference of risk in insurance markets (bit.ly/3Der5tC).
The Great Risk Transfer focuses on concerns that risk has been considerably individualised during the past few years, raising public policy challenges and gaps. This campaign and the WPI paper seek alternative and imaginative solutions to these challenges.
Policymakers both in the UK and internationally have made reinsurance market interventions in various contexts to improve the availability and affordability of cover – for example, the UK’s Flood Re. Given Flood
Re’s success, similar schemes have been suggested for other contexts; WPI’s paper develops a framework for considering the merits of such schemes. It is an invitation to our members and wider stakeholders to develop further innovative ideas for Re models, as well as a contribution to an important public debate.
If you have feedback on the WPI report, or suggestions on where a Re scheme could improve insurance affordability or availability, contact [email protected]
