Generali to launch a European insurance pool

The Italian insurance group Generali plans to create a European pandemic risk pooling system.

This project is being developed in cooperation with The Association of European Chambers of Commerce and Industry (Eurochambers), which represents more than 20 million companies (more than 93% of which are SMEs) located in 43 different countries.

Generali's initiative coincides with a similar French project that aims to develop a system to protect French businesses against the financial risks related to the epidemic, mainly the business interruption losses. Many European countries such as Switzerland, Germany and the United Kingdom have already established specific insurance pools for this type of risk.

The strategic partners, involved in the European project "Pandemic Risk Pool", are: European institutions, EU member States and other European stakeholders.