Director Technical Ceylinco Insurance presents paper at IIC

Director (Technical) of Ceylinco Insurance PLC, Jagath Alwis recently presented a paper on 'Tsunami - Sri Lankan Experience' at the International Insurance Conference (IIC) on 'Catastrophe Events - A Challenge' held in Karachi, Pakistan. The Conference, organised by the Pakistan Insurance Institute (PII ) was the second International Insurance event to be organised by the PII at the Sheraton Hotel in Karachi.

The conference was attended by over 400 insurance professionals representing India, Pakistan, Nepal, Bahrain, Mauritius Singapore, Malaysia, United Arab Emirates, UK, Turkey, Switzerland and the USA. The keynote address was delivered by Chairman of the National Disaster Management Authority, Dr. Zafar Iqbal Qadir of Pakistan.

In his paper, Jagath Alwis presented a detailed description of the magnitude and devastation caused by the tsunami in Sri Lanka on December 26, 2004.

The impact of the tsunami, the losses incurred and the manner in which the Sri Lankan insurers handled the compensation process were related by him. His paper also highlighted the post tsunami actions initiated by the Insurance Industry and the Government to mitigate the impact of future natural catastrophes on the insurance industry and the economy.