The Role of Insurance in Mitigating Social Inequality
Author: Kai-Uwe Schanz
COVID-19’s present and foreseeable social and economic impacts are a call to invigorate and recalibrate discussions to address social inequality and explore new approaches driven by public-private partnerships. Private insurance, though not designed to address social inequality per se, can offer financial relief to people or households when calamities strike. Such shocks hit the poorest the hardest. This report outlines how insurance can alleviate social inequality by covering exposures that may push middle-class individuals and families into poverty or exacerbate existing financial hardship.
Content portal – Insurers: a critical part of the social safety net