ESRB highlights systemic risks in EU insurance sector

An EU financial supervisory body has detailed the top four systemic
risks that arise from the activities of European (re)insurers.
The European Systemic Risk Board (ESRB)'s Insurance Expert
Group found that underpricing of products could lead to a lack of
substitutes in classes of insurance that are vital to economic
activity, thus posing a systemic risk.
Classes the ESRB considered vital to economic activity included
marine, aviation and transport insurance, liability insurance and,
in some cas