Insurance as a Lifeline for Governments During Disasters, Says Chair of Munich Re Foundation

Kathmandu, A chair at Munich Re Foundation emphasized Renate Bleich emphasized the dual role of insurance as a means of risk transfer and financial support for governments during major natural disasters. Speaking at the prestigious International Inclusive Conference in Kathmandu, president Bleich highlighted the importance of insurance in helping governments manage disasters like floods and landslides.

During her address, Bleich reflected on the recent devastation caused by floods and landslides in Nepal, stressing that the financial burden on government can be alleviated through effective insurance strategies. She also added that it will be vital for raising public awareness about insurance’s role in disaster preparedness and recovery.

The International Inclusive Insurance Conference, which attracted over 500 experts and representatives from around the world, provided a platform for discussing innovative approaches to climate-related insurance solutions. Bleich commended the organizers, particularly the Insurance Association, for their efforts in bringing together such a distinguished groups of global experts to discuss pressing issues.

Bleich also pointed out the boarder impact of climate change, stating that it affects not just Nepal but countries worldwide. She expressed optimism the conference would yield valuable insights into the climate-related insurance practices and lead to meaningful outcomes in addressing disaster risks.

The Conference, which runs until Friday, will feature more discussions aimed at formulating actionable strategies for Inclusive Insurance.