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Insurance: COVID-19

Insurers Call for Relief Fund to Cover COVID-19 Business Interruptions

Some small business owners have found that their business disruption insurance does not cover coronavirus losses. Some US states are considering developing legislation to force insurers to cover business losses. However, opponents argue that covering the losses caused by COVID-19 is beyond the capabilities of any one industry and such legislation could have a huge impact on the insurance industry's solvency. Instead, several insurers have called for the creation of a new federal relief fund to help cover business interruption losses. The proposal would see insurers manage the application process from businesses seeking financial assistance which would be provided through the COVID-19 Business and Employee Continuity and Recovery Fund.

Some travel insurers have also been criticized for not providing refunds of cover purchased for trips cancelled due to COVID-19. Travel agents have called on insurance providers to update their policies to include cover for COVID-19 in order to give people confidence in booking holidays for 2021. Since shelter in place orders have reduced the numbers of drivers on the roads and caused a significant decline in accident claims, some automotive insurers are issuing customer refunds or premium reductions. 

We have included a selection of our most popular market research on insurance below

 

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Insurance(Providers, Brokers and Re-Insurers) Global Market Report 2020-30: COVID-19 Impact and Recovery

1

Insurance(Providers, Brokers and Re-Insurers) Global Market Report 2020-30: COVID-19 Impact and Recovery

  • ID: 5022464
  • Report
  • 400 Pages
  • Region: Global
  • The Business Research Company
Business Interruption Insurance in the US - Procurement Research Report

2

Business Interruption Insurance in the US - Procurement Research Report

  • ID: 4579229
  • Report
  • 26 Pages
  • Region: United States
  • IBISWorld
Travel Insurance Market - Forecasts from 2020 to 2025

4

Travel Insurance Market - Forecasts from 2020 to 2025

  • ID: 5020175
  • Report
  • 117 Pages
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
Insurance Agencies & Brokerage Revenues World Report & Database

5

Insurance Agencies & Brokerage Revenues World Report & Database

  • ID: 4902989
  • Report
  • 2064 Pages
  • Region: Global
  • DataGroup Booksellers

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