London-based insurance leader Stephen Catlin and executives from Aon, Guy Carpenter, Willis Re and other companies have formed a steering group to examine ways for the UK insurance industry to respond to future pandemics.

The group, chaired by Mr Catlin as Convex CEO, has held an initial meeting to agree on objectives and will work closely with terrorism reinsurer Pool Re in making recommendations

“The insurance industry needs to be on the front foot in the current situation, paying claims quickly and continuing to provide people and businesses with the protection they require,” Mr Catlin said.

“Most importantly we need to find an industry solution for future pandemics, and this group has many years of combined industry experience.”

The group says its main objective is to propose an industry response to the government and the country, with Pool Re working closely with participants to provide structural recommendations.

The insurance industry is well placed to support the Government, individuals and businesses through its claims-paying ability and distribution channels, the group says, and through its links with academia can provide expertise on how to mitigate risks.

Other executives involved are Aviva CEO Maurice Tulloch, RSA CEO Stephen Hester, Pool Re CEO Julian Enoizi, Aon Reinsurance Solutions UK CEO Nick Frankland, Guy Carpenter International CEO James Nash and Willis Re CEO James Kent.

The group says further participants will be invited to join in due course.

Mr Catlin, who founded Catlin Group and has more than 40 years’ insurance experience, is also Chairman of the Pool Re advisory board.

The insurance industry has come under fire from UK small businesses and consumers for pandemic exclusions in areas such as business interruption.

The Association of British Insurers (ABI) has also said it will be necessary for governments and insurers to work together to find solutions to future pandemic risks, and has suggested pools like those used for flood, earthquakes and terrorism could be considered.

“If global pandemics are to be a more regular part of our world, we need to start talking about how to protect more businesses and individuals than has been the case with COVID-19,” ABI Director General Huw Evans said recently.