“It’s really important we learn the insurance lessons of the current pandemic” - John Ludlow

Airmic has welcomed the creation of a pandemic steering committee comprising several top insurance company bosses who will work with government-backed terrorism reinsurance fund Pool Re to develop a pandemic cover.

Insurance and claims consultancy Mactavish has criticised the move as a “PR gimmick”. It said the fact the committee was solely comprised of insurance companies meant it was like “marking your own homework”.  

The steering group is chaired by Stephen Catlin, the chief executive officer of Convex Group, with other members including Maurice Tulloch (CEO, Aviva), Stephen Hester (CEO, RSA), Julian Enoizi (CEO, Pool Re), Nick Frankland (UK CEO Reinsurance Solutions, Aon), James Nash (CEO, International, Guy Carpenter) and James Kent (CEO, Willis Re).

“The insurance industry needs to be on the front foot in the current situation, paying claims quickly and continuing to provide people and businesses with the protection they require,” said Catlin in a statement.

“Most importantly, we need to find an industry solution for future pandemics and this group has many years of combined industry experience.”

The group said that other participants would be invited to join in due course. While unable to comment on whether Airmic would become a member, chief executive John Ludlow did voice his support of the initiative. 

”Airmic is aware of and supports the new steering group,” he told StrategicRISK. ”It’s really important we learn the insurance lessons of the current pandemic and use them to implement lasting change at a national level. Airmic has its own views on the changes needed in the short, medium and long term, and we’re looking forward to sharing them with the steering group and representing the customer’s perspective in due course