After the Pandemic: Getting Ready for the Next Black Swan
COVID-19 has led to a public health crisis, with devastating consequences on livelihoods, financial markets and government coffers. The last time the world experienced a viral outbreak of a similar scale was in 1918 with the surge of the Spanish flu. These kinds of low frequency-high impact events are often referred to as Black Swans. Though rare, their destructiveness is broad and long-lasting, requiring a proactive approach to improve societal and economic resilience. Canada is exposed to a series of Black Swan risks. The insurance industry has been modelling tail risks for a long time and has deep expertise in this matter.
Claudia Verno (Insurance Bureau of Canada) will host a panel session with Dipika Deol (Swiss Re), Grant Kelly (P&C Insurance Compensation Corporation) and Frank Chong (BC Financial Service Authority) to discuss what could be the next big shock to hit Canada and how to prepare.