As multiple countries grapple with the novel coronavirus infection, individuals and organisations are scrutinising their insurance policies to see if they are covering the losses caused by the epidemic. On the ground, several insurers have also launched efforts to support the fight against the infection.
Reinsurers may face higher levels of risk than life and health (L/H) insurers in the current coronavirus outbreak, as the risk profiles of the former entail higher exposures to mortality and morbidity risks, says AM Best.