Nicolas Aubert, Chairman of the London Market Group said:
“The LMG welcomes the creation of the London Centre, it is another example of how London is becoming the global leader in supporting developing countries by giving them the technical advice and know-how to help them to grow their own domestic markets and encourage internal investment.
“Insurance can deliver significant capital quickly and importantly, the expertise alongside it to strengthen disaster planning, rebuild and increase resilience for the future. In disaster situations, countries often have to rely on humanitarian aid which takes time and often cannot cover all of the long-term costs. Research shows that the overall cost of the catastrophe can be three to four times higher if funds have to be raised once the disaster has occurred than if they are made available immediately.”
Press Release - here
Full Press Release here
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