On behalf of the European insurance and financial intermediaries, BIPAR would like to express its sympathy to all those affected by COVID-19 and thank all the persons who are risking their own health to help people and save lives in these difficult times.
National associations members of BIPAR take the actions they consider necessary and appropriate on a case by case basis to assist insurance and financial intermediaries in dealing with the urgent issues arising from this crisis.
Insurance and financial Intermediaries do their utmost to remain at the service of their clients through telephone, email and various digital means. Insurance and financial intermediaries follow the national recommendations and rules of public authorities and health agencies in relation to COVID-19. In most cases clients are asked, in line with the public measures decided at national level, to limit physical visits to offices.
In this unprecedented situation, there are, understandably, questions that cannot be answered in detail immediately by insurers or governments.
BIPAR is calling upon them to help intermediaries to communicate as clearly and timely as possible to clients while handling claims or answering questions. BIPAR is also calling upon them to assist intermediaries with all possible means in their on-going insurance related services to clients.
BIPAR continues to call upon governments and European institutions for a regulatory pause (no additional regulations) for all non-covid-19 related issues thus enabling intermediaries and their associations to give all their attention to the mitigation of the impact of COVID-19 now and in the near future.
Insurance markets and laws and rules are different around Europe but all over Europe the sector is currently, highly regulated and strictly supervised.
BIPAR will remain in contact with the European authorities and institutions as the crisis evolves and will keep its member associations appraised of developments at European level.
In cooperation with its partners worldwide grouped in WFII, the World Federation of Insurance Intermediaries, BIPAR also is in contact with international institutions such as the IAIS and the OECD.
BIPAR is assisting its member associations in different ways:
BIPAR is of the opinion that all parties have to work together in this COVID-19 context to find suitable solutions for this exceptional situation. One illustration of such cooperation is the Joint statement of the European Social Partners in the Banking and Insurance Sectors on the COVID-19 Emergency Crisis of 30 March 2020 (Click here).