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‘State of Coronavirus and Insurance Report’ Launched by insuranceQuotes.com
Revealed on Might 22, 2020
AUSTIN, TEXAS :In what methods has insurance coverage been affected by the COVID-19 pandemic? InsuranceQuotes.com’s newly launched 3,500-word State of Coronavirus and Insurance coverage Report solutions that query, detailing how insurers, shoppers and companies have all been—and are persevering with to be—impacted.
“People may debate whether or not this pandemic could have been foreseen, but in most areas of the insurance industry, they saw it coming 18 years ago. That is because, following the SARS epidemic in 2002, nearly every line of insurance coverage began writing in clauses that excluded pandemics and infectious disease causes, protecting many insurers from having to pay out claims in a time like this. That doesn’t mean the insurance industry has been unaffected, though,” mentioned Michael Giusti, insuranceQuotes analyst and writer of the report.
“From auto insurance companies offering refunds to idled drivers, to business insurers fending off lawsuits challenging their exclusions, to life insurers finding new ways to underwrite their policies, COVID-19 has rocked nearly every part of the insurance world,” mentioned Giusti.
The report gives an evaluation of COVID-19’s impact on:
- Medical health insurance
- Journey insurance coverage
- Unemployment insurance coverage
- Enterprise insurance coverage
- Restaurant insurance coverage
- Particular occasions insurance coverage
- Movie/TV/manufacturing insurance coverage
- Auto insurance coverage
- Life insurance coverage
As well as, insuranceQuotes.com gives a take a look at related key points for the months and years forward.
“Post pandemic, many changes and questions will likely emerge moving forward. For one, no insurance policy is likely to offer pandemic or infectious disease coverage any time soon. Another question mark is whether states, regulators, and local jurisdictions will step in and try to force insurers to pay for things that they thought were excluded in their policy language,” added Giusti.
The total State of Coronavirus Insurance coverage Report is out there at https://www.insurancequotes.