Britain and other countries are failing to learn from the Covid outbreak by not working with the insurance industry to prepare for the next pandemic, the boss of Axa has warned.
Thomas Buberl said the impetus in Europe to create insurance mechanisms to cover losses that arise from future health crises had faded.
“There have been some quite concrete discussions, but as soon as the pandemic slowed down, as soon as some people had to focus on elections, the topic got moved down in priority,” he said. “Today I think it will be very difficult to relaunch the energy for this since the world has moved on.”
Insurers argue that pandemic-related losses are too large for the industry to shoulder on its own and they