Emerging risks are new and/or unknown risks that develop in new contexts and conditions. If left without identification, assessment, or appropriate management, such type of risks will bring about substantial losses to communities. Some of the emerging risks are epidemic and pandemic risks, climate risks, and technology risks. Pandemics have a tremendous effect on health systems, financial markets, and vulnerable industries. At present, given the coronavirus outbreak, the insurance industry and the states are widely challenged with its impacts and consequences.

Annual Conference of Insurance and Development is an opportunity that helps academicians and policymakers share their knowledge and expertise for the good of the insurance industry. The main theme of the 27th NCOID i.e. “Emerging Risks in the Insurance Industry; Opportunities and Challenges” was chosen in order to organize the relevant discussions on the fields of emerging risk management, to examine the appropriate management strategies with the ultimate goal of reducing the undesirable impacts of emerging risks and to offer relevant applicable proposals for the insurance industry.  Given the position of the insurance industry in country’s economy and the undeniable close interrelationship between the industry and economy, the insurance industry must prioritize the appropriate strategies in the wake of such risks in future.

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