Business Interruption Insurance: how the industry could handle change
Writing for the Financial Services Faculty, journalist David Michael considers the liabilities insurers had for coronavirus business interruption insurance and what the FCA court case could mean.
Covid-19 has unquestionably been a tragedy for human life worldwide. However, among insurers it has been those covering commerce, not lives, that suffered the most from the pandemic so far.
Widespread curbs imposed on society to limit the virus spreading have hit business and commercial insurers hard, while governments generally picked up tabs for coronavirus health costs.