David Onoprishvili attended the international insurance conference in Slovenia
On 5th September 2024, the Chairman of the Insurance State Supervision Service of Georgia, David Onoprishvili was invited to participate in 9th International Insurance Conference under the organized by the Insurance Supervision Agency of the Republic of Slovenia.
The main topic of the conference was the effects of climate change on the insurance market, ways to reduce the insurance gap and the necessity of finding effective solutions to protect our environment and assets. Opening remarks were delivered by the Director of Insurance Supervision Agency of Republic of Slovenia and the Minister of Finance of Republic of Slovenia. Experts and scientists from various fields were invited as speakers, discussing the effects of climate change on the insurance market, ways to reduce the insurance gap and the necessity of finding effective solutions to protect our environment.
The first session was titled “Science and Natural Catastrophes (Nat-Cat)”. Participants discussed the challenges of the insurance gap from different perspectives and ways to reduce it. They discussed issues about the reality of climate risks and the latest trends in predicting natural disasters as prerequisites for effective planning of measures and mitigating the consequences of natural disasters. The second session was titled “In Search of Solutions”. Participants tried to explore effective strategies for managing climate risks and look for solutions for insurance against natural disasters. The large extent of the insurance gap highlights the urgent need for comprehensive measures to strengthen protection against natural disasters and for the cooperation of the state, the insurance sector, and consumers.
In addition, there was a panel discussion moderated by the professor Karel Van Hulle, lecturer at the Catholic University Leuven and at the Economics Faculty of the Goethe University in Frankfurt. Discussion was held on climate change and how to reduce the growing global disparities with representatives of reinsurance companies.
David Onoprishvili also had bilateral meetings with Gorazd Čibej – Director of the Insurance Supervision Agency of the Republic of Slovenia, Marko Ivanović - Chairman of the Insurance Supervision Agency of Montenegro and Ivan Luburić - Director of the Insurance Supervision Agency of Bosnia and Herzegovina.