02-04-2020
As the economic fallout from the pandemic continues to grow, analysts have crunched the numbers to take an early temperature check for how hard the coronavirus will hit the industry. Intelligent Insurer finds out more.
“Manuscript policies, which are individually tailored to policyholders, may have unclear terms and conditions, which will likely lead to coverage disputes and litigation in the months ahead”. Moody’s report titled Coronavirus outbreak, economic shock will weigh on profitability and capital.
· Analysts expect economic shock to hit industry earnings hard
· Premiums at risk in event of “severe and prolonged” slowdown
· Proposed legislation on retroactive cover is "existential threat"
· Low oil prices add additional pressure for insurers in gulf
China may be coming out of the other side of the pandemic but much of Europe and the US still have the peak to come as analysts examine the financial consequences for the re/insurance industry.
COVID-19, , Moodys, insurers, analysts, financial, credit, re/insurance, capital, reinsurers, pandemic, premiums, coronavirus, shock, legislation, property
