Εκτίμηση της επίδρασης της πανδημίας COVID-19 στις πρακτικές αποτίμησης κινδύνου
Evaluating the effects of the COVID-19 pandemic on risk assessment
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Keywords
COVID-19 ; Solvency ; Φερεγγυότητα ΙΙ ; Ασφαλίσεις ; ΘνησιμότηταAbstract
In this paper, we examine the influence of the COVID-19 pandemic, as an extreme health and social phenomenon, on insurance in Greece. In addition, we investigate the awareness level as well as the ability to predict and measure such future events.
Firstly, we analyze the Solvency II framework, the legislation regarding the supervision of insurance companies in the EU. Through this analysis, the reader gains an insight of the complexity of the risks to which an insurance company is exposed, the quantitative and qualitative analysis that needs to be carried out and the connection between the risks and a phenomenon like the COVID-19 pandemic.
Then, the impact of the COVID-19 pandemic on mortality levels in Greece is investigated through the analysis of excess mortality during the pandemic years and the estimation of the levels of mortality due to COVID-19 is carried out.
Then follows a detailed analysis of the results of insurance in Greece, at the level of insurance industry. The purpose of this analysis is to determine the exact impact of the pandemic on insurance.
Finally, by combining all the previous results with conclusions from corresponding research abroad, we try to conclude what was the overall effect of the COVID-19 pandemic on Greek insurance companies.