Wednesday, December 5, 2012

A Twitter Conversation -- The Underinsurance Gap

Lloyd's of London, one of the leading insurance markets in the world (for over 350 years) conducted a Twitter conversation today for one hour on the global insurance gap that exists.  Lloyd's recently published a study on the issue of the underinsurance gap that exists worldwide and some ideas on how to fix it.  Lloyd's has on its website an interesting piece on this that all businesses should review.

A lot of the Twitter conversation focused on catastrophes and the need to have mitigation and prevention processes in place to allow for insurance to be affordable and available.  You can check out the Twitter conversation by searching the hashtag #insurancegap.  Some of the concepts discussed were location of business assets in the supply chain, the lack of insurance for substantial parts of natural disasters, the value of insuring for catastrophic losses lowering the burden on taxpayers, and the need to invest in mitigation and preventative measures.  This was an interesting way to learn more about issues affecting disasters and disaster recovery.

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