A combination of the best financial support programmes could deliver better, more appropriate cover that is fit for an uncertain future. Intelligent Insurer reports.
“We have on the sidelines highly experienced and skilled catastrophe response professionals, systems and methodologies which are used for earthquakes, hurricanes, wildfires and those kinds of responses. They are not being deployed today for COVID-19.” Jason Schupp, founder of thinktank Centers for Better Insurance (CBI).
· Large stimulus payouts backed by governments 'inefficient'
· Insurers could help unblock payment bottlenecks in government programmes
· Tailored insurer-led scheme risks 'haves and have-nots'
· Future-proofed cover looks beyond pandemic shutdown
As warnings about the threat of enforced retroactive business interruption cover continue to ring out, one thinktank chief suggests that insurers should actually be much more involved in the process, not less.
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