8 Impact Areas of COVID-19 on Insurance Operations: Part 2

[vc_row][vc_column][vc_column_text]5. Increased Litigation and Reputation Risks The rise in calls and inquiries also brings with it’s the thorny discussions about claims especially around ‘what is covered’ and ‘what is not covered.’ Recently, the Insurance Regulatory Authority (IRA) issued a directive that insurers must settle all COVID-19 claims. For most insurers, pandemic risks like COVID-19 fall…

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8 Impact Areas of COVID-19 on Insurance Operations: Part 1

[vc_row][vc_column][vc_column_text]In our previous article – Insurers Hit from all Direction by the COVID-19 – we saw how the ongoing pandemic is engaging insurers on multiple fronts including as employers, claim payers and investment managers. This follow up article addresses the 8 Impact Areas of COVID-19 upon insurance operations. 1. Increased Government & Regulatory Oversight 2.…

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Insurers Hit from all Directions by COVID-19 Pandemic

[vc_row][vc_column][vc_column_text]In the same way that the world is watching governments across the globe respond to the COVID-19 crisis, it will be watching the insurance industry to see how effective it will be in helping minimize the damage. As the entity that individuals, businesses and communities turn to in times of economic strain, the insurance industry…

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