Insurance industry joins World Economic Forum initiative to mitigate innovation risks

The global insurance industry has joined technology firms and governments from across the world in a new initiative led by the World Economic Forum to avoid catastrophic levels of uninsured risks in the innovation economy, Asia Insurance Review reported. The Mitigating Risks in the Innovation Economy initiative aims to close gaps in existing governance frameworks to manage risks from innovations. The initiative also seeks to determine liabilities, roles and responsibilities required to set up a data-sharing mechanism to manage the risks.

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