Allianz CEO Says Virus Hit Insurers Like a ‘Meteorite’

Allianz CEO Says Virus Hit Insurers Like a ‘Meteorite’

Assessment

Interactive Video

Business, Social Studies

University

Hard

Created by

Quizizz Content

FREE Resource

The CEO of Allianz discusses the impact of COVID-19 on the insurance industry, highlighting the German Government's plan to backstop losses for commercial credit insurers. He emphasizes the importance of avoiding procyclical behavior and the need for public-private partnerships to stabilize the economy. The CEO also calls for similar solutions at the European level to manage systemic risks, noting that the insurance industry cannot handle such risks alone. He predicts significant losses for the industry across various sectors due to the pandemic.

Read more

7 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main reason the German government is backing commercial credit insurers?

To increase their profits

To prevent a domino effect of insolvencies

To reduce insurance premiums

To promote international trade

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why does Allianz not require government support to absorb losses?

They are extremely stable and can manage risks

They have diversified their investments

They have reduced their workforce

They have increased their premiums

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the CEO's view on the need for a European-level solution?

It is essential to address systemic risks across Europe

It would be too costly to implement

It is unnecessary as each country can handle it individually

It would only benefit large insurers

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does the CEO compare the pandemic's impact to other events?

Similar to a minor economic downturn

Comparable to a systemic event like terrorism

Like a regular market fluctuation

Similar to a seasonal change

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is diversification important for the insurance industry?

It simplifies the underwriting process

It helps in reducing operational costs

It increases the number of clients

It ensures that not all risks occur simultaneously

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the CEO's prediction for the insurance industry's earnings in 2020?

Earnings will slightly increase

There will be significant losses

Earnings will remain stable

It will be a record earnings year

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key challenge for the insurance industry during systemic events like pandemics?

High competition

Lack of diversification

Regulatory changes

Technological advancements