Catlin chairs pandemic-focused insurance group
An insurance steering group in the UK, formed to propose pandemic response, is being led by Stephen Catlin, chief executive officer of Convex.
He is chairman of the group, which features CEOs from another of others in the insurance industry, who will work with Pool Re “with the primary objective to ensure that, working alongside the industry to support customers and communities in the current crisis, the industry can strengthen its response to future pandemics”.
The first meeting of the group was held on Friday.
Pool Re is a disaster risk-financing mechanism, and it will work closely with the steering group to provide structural recommendations.
The steering group's main objective is to propose an industry response to both the government and the country. In a statement it said: “The insurance industry is well placed to support the government, individuals and businesses through its sophisticated claims paying ability and distribution channels. Moreover, the industry can, through its links with academia, provide expertise on how to mitigate risk.
Mr Catlin said: “The insurance industry needs to be on the front foot in the current situation, paying claims quickly and continuing to provide people and businesses with the protection they require. Most importantly we need to find an industry solution for future pandemics and this group has many years of combined industry experience.”
Other members of the group are Maurice Tulloch, CEO of Aviva; Stephen Hester, CEO of RSA; Julian Enoizi CEO of Pool Re; Nick Frankland, UK CEO reinsurance solutions, Aon; James Nash, CEO, international, Guy Carpenter; and James Kent, CEO of Willis Re. Other participants are expected to be invited to join.