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Member, Beacon International Group, Ltd.
Franck Baron, chairman of the Pan-Asia Risk and Insurance Management Association, has urged risk managers in Asia to fill existing natural catastrophe protection gaps, reports Asia Insurance Review.
There is a continuing natural catastrophe protection gap as significant uninsured losses were incurred from the 2015 Nepal quakes and the recent Kyushu earthquakes, said Mr. Baron.
The 2015 Tianjin disaster shows the continuing lack of room for appropriate and sustainable catastrophe insurance pricing in Asia's competitive market, said Mr. Baron.
He also added that climate change should be on risk managers' agenda as it would eventually affect Asia.