Programme

June 21, 2013, Friday
09:45—11:00
Pavilion 3, Amphitheatre
Panel

THE ECONOMICS OF MANAGING MAJOR CATASTROPHES

The enormous costs of natural and man-made disasters are forcing governments and companies to see safety in a different light. Incentives are too often directed towards responding to disasters, rather than crisis prevention. How might technological advances and adjusting financial incentives lead to mitigating risk and a more balanced approach to managing crises?

Moderator
Margareta Wahlström, Special Representative of the UN Secretary-General for Disaster Risk Reduction

Panellists
Valery Akimov, Head of the All-Russian Research Institute for Civil Defense and Emergency Situations of the Russian Emergencies Ministry, Doctor of Technical Sciences, Professor
Gill Grady, Senior Vice President – Corporate Business Development, GSE Systems
Francesc Pla, Deputy Executive Secretary of the partial agreement of the Council of Europe on the prediction, prevention and assistance in the event of natural and man-made disasters
Vladimir Puchkov, Minister of the Russian Federation of Civil Defense, Emergencies and Elimination of Consequences of Natural Disasters
Reto Schnarwiler, Managing Director, Swiss Re

Front row participant
Valery Sorokin, Professor, Gubkin Russian State University of Oil and Gas

Highlights

Reto Schnarwiler
Managing Director, Swiss Re

We see that the transfer of some risk (from the government) to the insurance and capital markets is an efficient tool to diversify the risk across the globe.

Reto Schnarwiler
Managing Director, Swiss Re

Well-insured catastrophes can be inconsequential or even positive to economic activity.

Vladimir Puchkov
Minister of the Russian Federation of Civil Defense, Emergencies and Elimination of Consequences of Natural Disasters

Today there are already more than 300,000 businesses in the Russian Federation that are insured and taking all the necessary measures to anticipate, prevent and reduce risks.