Mizzi appointed S&D rapporteur on insurance of natural and man-made disasters

Wednesday, 10 Jul 2013, 15:03

 

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Labour MEP Marlene Mizzi was appointed by the Socialists and Democrats Group (S&D) as their main spokesperson on the upcoming report regarding the 'Insurance of natural and man-made disasters'.  This is Marlene Mizzi's first official appointment as a rapporteur since her election as a Member of the European Parliament.

The report, to be penned by Finnish MEP Sampo Tehro, will focus on the increased costs that insurance companies in Europe are facing due to the increase in the number of natural and man-made disasters occurring throughout Europe.

Marlene Mizzi said "This report, based on the Commission's Green Paper on the same subject, will deal with the fact that insurance companies nowadays might not have the necessary capacity in order to adequately compensate the people who paid for their insurance claims in case of natural disasters".

Among the proposals that are being put forward in the Commission's Green Paper are the ideas of the setting up of a disaster insurance poll, the tightening of insurance for oil and gas exploration and having the governments as the re-insurers of last resort.

Ms Mizzi said, "Disasters in Europe bring about not only physical destruction  but also serious economic and financial problems. According to studies referred to in  the Green Paper, climate change will mean that  insurances will be called upon to cover increasingly frequent and intense events. This report will serve as a first step towards ensuring that such disasters do not affect citizens and businesses more than what is expected in such circumstances, and to assess the availability and affordability of insurance.

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