"Unknown Territory" - Insights into the Nano-Risk-Monitoring (Journal "Versicherungswirtschaft")
The German magazine "Versicherungswirtschaft" (insurance industry) has published an article about nanotechnology and insurance. Of special focus is the Nano-Risk-Monitoring tool developed by The Innovation Society, St.Gallen, in cooperation with the reinsurance company Gen Re.
Many experts consider nanomaterials and -technologies as key technologies of the 21st century. However, certain nanomaterials are also associated with potential risks. Little explored EHS effects, fragmented regulation and reputational risks contribute to this. Not only manufacturers and users of nanomaterials are exposed to these potential risks, but also direct and reinsurers. The Nano-Risk-Monitoring enables insurance groups to systematically incorporate this topic into their business activities.
The monitoring system was developed by The Innovation Society, St.Gallen, in cooperation with the reinsurance company GenRe. The core of the tool, which is especially adapted to the needs of direct and reinsurance groups, is a series of risk profiles for the most important nanomaterials. The profiles are based on several insurance-relevant criteria.In the article published in the magazine "Versicherungswirtschaft", the authors of the monitoring system illustrate their view on the issue "insurability of nanotechnologies".
Article: "Exploring unknown terrain" (in German). Versicherungswirtschaft 5/2015, Volume 70.
Image Source: The Innovation Society (2015)