Despite the widespread availability of insurance products, a significant portion of the global population remains exposed to financial vulnerabilities due to the insurance gap, which refers to the disparity between the actual insurance protection in place and the level of coverage needed to mitigate risks effectively. This article, which appears in the September issue of “The European Actuary,” explores the insurance gap, discussing the following: 

• Challenges in healthcare coverage
• Catastrophic risks
• European environment agency’s insight
• EIOPA’s dashboard initiative
• Factors contributing to the insurance gap
• Examining the role of insurance resilience indices
• Closing the gap