Covid-19
The impact of the Covid-19 pandemic is reverberating around the world. Insurers face an uncertain claims environment with major investment losses also likely in the short-term. The industry will also have a pivotal role to play in helping the economy bounce back. In this section, Insurance Day provides in-depth insight and analysis of the implications of the coronavirus on international re/insurance markets and examines the role the industry must play in helping the economy recover.
Legal Focus: Reinsureds win in Covid-19 BI aggregation cases
High Court affirms support for a broad approach to aggregation and coverage for Covid-19 losses at a reinsurance level
Legal Focus: Covid-19 coverage dispute highlights importance of early decision-making
Strategic decisions made early in a case, including in which forum to file, can influence case-dispositive issues such as the law applied by the court
Legal Focus: Deterioration of physical assets could be the next Covid-19 BI battleground
While claims for physical damage caused by the imposition of government-mandated Covid-19 lockdowns do exist, some insureds are seeking to set a new precedent by claiming for deterioration of their assets against all-risk and business interruption policies
Germany's Federal Court of Justice answers important question on business shutdown insurance
Supreme court’s ruling likely to herald the end of discussions on older business shutdown insurance policies, but whether this is a new chapter for business shutdown insurance and whether insurers can convince policyholders of the benefits of newer policies remains to be seen
Courts set to consider unanswered questions from Covid-19 BI test case
Issues of aggregation and the treatment of furlough payments will be addressed in forthcoming cases, but uncertainties are likely to remain
Legal Focus: Pandemic will create a buoyant market for insurers
But Covid’s unpredictable nature presents a high degree of risk for carriers looking to improve their market share
Australia's Covid BI test case saga leaves some unanswered questions
Australian courts have variously found in favour of insurers and insureds in two test cases
Will insurers face an avalanche of long Covid-19 claims?
If Covid-19 becomes a prescribed disease, claimants' lawyers could see that as a green light to pursue work-related claims
Focus: The insurance industry must decide its response to hybrid working and hydrocarbons
The year ahead will be defined by the continued fallout from the Covid-19 pandemic, with the industry set to face both internal and external challenges
Focus: Face-to-face underwriting vital to the future of London's PI market
The professional indemnity market may have survived Covid-19, but it needs to address the pandemic’s most profound legacy: the increase in competition from domestic markets
Focus: Co-ordinated action essential to mitigate maritime supply chain crisis
Supply chain issues enable shipowners to obtain higher freight rates and offset increased costs, including the cost of insurance, but a more comprehensive solution is needed to avoid a global recession
ID Comment: Learning the lessons of hybrid working
Firms that want to return to normal should pause for thought
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