European risk managers propose EU catastrophe insurance

LONDON (Reuters) - The European Commission should create an European Union-based resilience framework to provide insurance cover for catastrophes such as pandemics and huge cyber attacks, the Federation of European Risk Management (FERMA) said on Tuesday.The framework would involve public-private partnerships and could respond to events which create hefty business losses without physical damage, FERMA said in a letter to the EU's executive body.The letter comes as small businesses in Europe..