On 6 July, Hannah Grant, Head of A2ii Secretariat, took part in the Geneva Association and Insurance Development Forum (IDF) panel discussion on Insurance Development in Emerging Markets: The role of public policy and regulationthe GA and IDF report. Other panellists were the report’s co-authors Bill Marcoux, Chair of Regulation & Resilience Policies (LRRP) Working Group, IDF and Dennis Noordhoek, Director Public Policy & regulation, Geneva Association as well as Corneille Karekezi, Group Managing Director and CEO, Africa Re and Sang Lee, CEO, Manulife Vietnam.
In line with the report’s conclusions, panellists discussed the critical role of good public policy and regulation in ensuring that the insurance sector can play its part in supporting economic growth, societal development and resilience. Key factors that drive insurance market development and close protection gaps were discussed: sufficient political prioritisation of insurance, higher levels of financial and insurance literacy and risk awareness among all stakeholders, effective and efficient insurance regulation and supervision, increasing trust in insurance solutions.
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