By Lucia Osborne-Crowley (September 10, 2021, 1:24 PM BST) — Europe’s insurance watchdog has warned that the sector must close the so-called protection gaps in availability of cover that were exposed by the COVID-19 crisis and the increasing number of weather catastrophes hitting the bloc.
Petra Hielkema, the new chair of the European Insurance and Occupational Pensions Authority, said that the regulator wants to close insurance gaps that have become apparent over the past year, particularly as countries across the Continent have been hit by devastating floods and storms.
“Considering all the possibilities in the market, we also need to keep an eye on what isn’t possible: the gaps [in protection],”…
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