"Security, facing an extraordinary challenge" - Prime Minister Rama: Let's build a stronger response among countries
Tirana hosted the Annual Conference of the World Organization of Insurance Supervisors. In his speech, Prime Minister Edi Rama listed the challenges that nations face today, emphasizing that for small countries, these challenges are more difficult, also due to low insurance coverage in cases of disasters.
"Climate change, cyber threats are challenges that affect us all and that require innovative and comprehensive solutions from us. The insurance industry is facing an extraordinary challenge and is also facing very difficult choices in an effort to restore risk resilience and a shared security. For a sustainable future we must embrace a holistic approach to resilience that takes into account the multitude of challenges that families, businesses and nations face. For smaller economies the consequences of these global risks are amplified. Recent years have shown us how quickly crises can disrupt our economies and stress communities. The damage from disasters such as floods, fires and earthquakes can take years to wipe out. The path forward is clear, we need to expand our safety nets and ensure that these solutions are taken by everyone ," said Rama.
However, the Albanian prime minister also listed possible solutions, such as regional cooperation and technology.
“There is a solution, the digital platform is helping to expand our reach. The ongoing evolution aims to create more efficient and accessible markets including insurance. Educating citizens with financial knowledge will help them see insurance as an essential part of their lives and an investment in their futures. By harmonizing policies across countries, we build a stronger response across countries. We can transform uncertainty into resilience and complexity into strength and crisis into new opportunities. This is increasingly the world of the brave and a moment when the choice could not be clearer: either we move forward on the path of inertia, closing our eyes before the iceberg sinks us all, or we are brave, creative and united for a new path that will save us all.” In today’s world, the point is that no one can save themselves or their nation alone. Either all nations will come together to save humanity, or humanity will go to hell with it. all nations together ," he said
For Rama, the modernization of insurance supervision in Albania and gradual harmonization with EU standards marked an important step towards a safer and more integrated financial system.
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