Generali signs MoU to launch European pandemic risk pool

Italian insurer Generali has entered a memorandum of understanding (MoU) with the European organisation of chambers of commerce, Eurochambres, to develop a potential ‘pandemic risk pool’ against future pandemic risks.

Generali said Eurochambres represents over 20 million businesses – of which over 93 percent are small and medium-sized (SMEs) - across 43 different European countries.

The participation in the ‘pandemic risk pool’ project is expected to be broadened to involve European institutions, EU Member States and other leading European players in the creation of public-private partnerships and mechanisms that will provide a buffer against future risks.

The move follows Generali’s contribution to address the COVID-19 emergency through the Extraordinary International Fund of €100 million and the Recovery Plan for Europe launched by the European Union at the end of May 2020.

According to Generali Group CEO Philippe Donnet, the European Recovery Fund represents a "strong political sign that Europe is there to help its citizens in times of crisis, and Generali wants to be part of this commitment by supporting the European response to COVID-19 that started with the €100 million Extraordinary International Fund launched in March."