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Airmic commends Lloyd’s pandemic recovery and resilience proposals

Airmic 1st July 2020

Airmic, the UK association for risk and insurance professionals, has welcomed Lloyd’s proposals for how the insurance industry can support global economic and societal recovery from the impacts of COVID-19, and to build resilience for future systemic catastrophic events as set out in its report “Supporting global recovery and resilience for customers and economies: the insurance response to COVID-19”, published today.

In a statement, Airmic said:

“Lloyd’s proposals address the fact that businesses are facing very acute and immediate challenges from the impact of the global pandemic while also considering the medium and long-term insurance challenges that the pandemic has exposed.

“We are very much at the beginning of the crisis, and businesses need practical support and insurance solutions for potential future waves and unexpected consequences of this virus and Lloyd’s has shown leadership in proposing practical solutions.

“We welcome the fact that the report also looks beyond the pandemic and addresses the need to find a framework for coping with the devastating and long-term impacts of systemic catastrophic events.

“The proposed solutions are the product of broad thinking and extensive consultation with Lloyd’s customers, including those represented by Airmic, the insurance market and government. This collaboration is welcomed as it is vital during such a far-reaching crisis. Only by working together will we emerge from the pandemic stronger, and Airmic is looking forward to working with Lloyd’s in turning this into a reality.”

About Airmic:

The leading UK association for everyone who has a responsibility for risk management and insurance for their organisation, Airmic has over 450 corporate members and more than 1,300 individual members. Individual members include company secretaries, finance directors, internal auditors, as well as risk and insurance professionals from all sectors. Airmic supports members through: training and research; sharing information; a diverse programme of events; encouraging good practice; and lobbying on subjects that directly affect its members.

For more information, contact:

Jessica Titherington | +44(0)7733 261445 | jessica.titherington@airmic.com