Forced retro BI cover will have 'destructive' impact on insurers

AM Best analysts suggest that industry capital backing US insurers and reinsurers writing business interruption (BI) insurance could decline by as much as 50 percent on an after-tax basis if legislated policy changes force carriers to pay for two months of retroactive coverage on COVID-19-related BI claims.

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AM Best, Business interruption, Coronavirus, Insurance, Reinsurance, Claims, North America

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