Global economy and business insurance at risk if Covid-19 forces payouts
The Federation of European Risk Management Associations has launched a task-force to look at business cover for catastrophic risks
07 May 2020 - 16:34
London — Forcing retroactive payouts to cover business disruption losses resulting from the coronavirus pandemic could ultimately put financial stability at risk, global insurance regulators said.
Disputes over cover for businesses struggling to stay afloat during Covid-19 lockdowns have erupted in countries, including Britain and the US; in the latter, eight states have brought in laws that would require insurers to pay claims, mainly to small businesses, despite exclusions...
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