A very interesting topics written by an insurance experts , I found the topic very useful and helpful to me to know about the new area of insurance and claims.
In my opinion for COVID19 to be covered by insurance the perils and scope of cover under the insurance policy must be extended to include pandemics as one of the direct loss peril and not a consequential loss , as most of disputes which arises after the event of COVID19 are refer to the fact that the pandemic risk not stated clearly in the insurance policy as one of the covered perils causing direct lossd but may be consequential as to business set up following the occurrence of the event .
As the event is catastrophic newly introduced and unforeseen and and unexpected without any past experience for both the insureds , insurers and re -insurers world wide non one insurance seekers in present world request to cover such risk and no insurer and re -insurer create or develop an insurance policy cover the peril of pandemic.Hence definitely a suitable cover may exist in nearest future.
Regards.
A very interesting topics written by an insurance experts , I found the topic very useful and helpful to me to know about the new area of insurance and claims.
In my opinion for COVID19 to be covered by insurance the perils and scope of cover under the insurance policy must be extended to include pandemics as one of the direct loss peril and not a consequential loss , as most of disputes which arises after the event of COVID19 are refer to the fact that the pandemic risk not stated clearly in the insurance policy as one of the covered perils causing direct lossd but may be consequential as to business set up following the occurrence of the event .
As the event is catastrophic newly introduced and unforeseen and and unexpected without any past experience for both the insureds , insurers and re -insurers world wide non one insurance seekers in present world request to cover such risk and no insurer and re -insurer create or develop an insurance policy cover the peril of pandemic.Hence definitely a suitable cover may exist in nearest future.
Regards.