Organizers of events called off because of the coronavirus are likely to miss out on insurance payouts because typical policies do not cover epidemic outbreaks. Hotels hit by cancellations may fare better.
Global insurers and reinsurers are exposed to the coronavirus outbreak directly through a potential spike in claims, and indirectly through the impact on economic growth and the resultant financial market volatility, according to a report from Moody’s Investors Service.
Global insurers face a hefty bill if the coronavirus forces the cancellation of the Summer Olympics in Tokyo, with estimates of the cost of insuring the sporting showpiece running into billions of dollars.
The COVID-19 outbreak is expected to have a 'significant impact' on the marine insurance market as the volume of cargo shipments within Asia and across the globe reduces drastically, IUMI's chairman of the ocean hull committee Rama Chandran told Asia Insurance Review.
The World Health Organisation has declared the novel coronavirus a public health emergency of international concern, businesses need to be prepared for the outbreak’s possible effects. Insurance broker and risk advisor Marsh has released a plan to help businesses deal with the global coronavirus outbreak.
High premiums, a lack of understanding of insurance and distrust are major barriers hindering the sale of insurance products in China despite the rapid growth of its online insurance sector.
Genetic testing can be a powerful tool for insurers - potentially allowing them to price risk better. But it also carries with it some potential risks, if applied indiscriminately.
A World Bank bond designed to deliver funding to help the world’s poorest countries to tackle fast-spreading diseases has lost half its value as the coronavirus outbreak in China has fanned fears that investors could face hefty losses
A new report from Aon warns organisations that cyber risks can come from any digital channel – even those channels considered “less appreciated.”
China has reduced several pension and insurance fees in order to help businesses cope with the coronavirus (COVID-19) outbreak.
