IUA supports Pandemic Re

The International Underwriting Association is supporting calls to devise a government-supported insurance solution for future pandemic events. The Pandemic Re group is working with UK state-backed terrorism mutual Pool Re in the wake of the Covid-19 crisis.

IUA chief executive Dave Matcham said: “We have been following closely discussions on a number of different possible approaches to providing cover for future losses from pandemic risks.

“I am pleased that Pandemic Re has been able to gain support for its work from many volunteers across our industry. Many IUA members are represented in the working groups that are being formed to examine different aspects of the issue and the association looks forward to providing additional support.

“This backing clearly demonstrates our sector’s commitment to helping mitigate risk and finding more effective recovery solutions.”