Covid-19 virtual roundtable: Issue Six
For the last sixty-three years, over a long weekend in September, in the “billionaires playground” that is Monte Carlo, the crème de la crème of our industry have gathered.
It’s hard to think sometimes that we’re referring to a (re)insurance event, but as one of the highest revenue generating meets after the Formula 1 Grand Prix, it’s certainly something to take note of.
At the end of last week, the event organisers announced that the 64th edition of the Rendez-Vous de Septembre has been cancelled.
While it has perhaps come as no surprise, it’s certainly acting as another significant reminder of the gravity of the situation that has been caused by the devastating spread of Covid-19 which has impacted all areas of our lives.
Indeed, Covid-19 has made us take stock of a lot of things from both a personal and business point of view. It’s made us reconsider and discover new ways to interact with each other, making face-to-face meetings something we almost certainly long for, but not a necessity.
During this week’s Covid-19 virtual roundtable, our esteemed panellists have shared some of the ways in which they’re now interacting with their colleagues, clients, brokers and other stakeholders during these unprecedented times. Now that it would seem that this year’s conference season has almost certainly been cancelled, the emphasis on engagement has never been greater.
However, while meetings in the glorious spaces of Monte Carlo will cease to exist this year, it doesn’t mean we can’t recreate some of the magic. At The Insurer, we’ve been working tirelessly to come up with some compelling alternatives which we look forward to sharing with you in due course.
Elsewhere in the(re)insurance calendar, hurricane season is almost upon us. With an above average hurricane season being predicted, our industry leaders warn of additional stresses to come. Clearly the industry balance sheet and earnings would benefit from a moderate hurricane season, but we shall have to wait this storm out.
Also in this week’s roundtable, the need to help governments and the public – on both sides of the Atlantic – understand how (re)insurance plays an essential role in rebuilding economies in a post recessionary world has also been raised.
The appointment of only one insurance industry executive to Donald Trump’s Great American Economic Revival Industry group has been deemed problematic, further highlighting that the sector has to improve its standing with politicians.
I hope you enjoy this week’s roundtable – it makes for some informative reading.
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This edition’s participants:
James Bradshaw, Chief Executive Officer, Willis Re North AmericaJon Colello, CEO, P&C Americas, President of Partner Reinsurance Company of the U.S.Christopher Gallagher, CEO, Sompo International Commercial P&CJohn Huff, CEO, Association of Bermuda Insurers & ReinsurersMichael Halsband, Partner, McDermott Will & Emery