Until the number of new daily cases declines rather than increases, the severity of the outbreak will continue to multiply. RMS said it does not expect this outbreak of Ebola to become a significant mortality threat outside of West Africa.
Some property/casualty insurers are considering Ebola before writing or renewing policies. Others are introducing new products tailored for Ebola.
Several airlines have cut flights and there are some air ambulances are not being allowed to make refueling stops, complicating the medevac option offered by International SOS, insurance firm Allianz Worldwide Care and others.
It’s too early to tell but Ebola claims potential exists in lines from workers’ compensation and business interruption to general liability and directors & officers.
Chris Boggs of the Insurance Journal Academy of Insurance explains whether Ebola meets the qualifying factors presented as a true workers’ compensation exposure for most employers.
Regarding an exclusion for Ebola risk, Ace is “using it selectively, not indiscriminately or unilaterally” to address the risk. It’s normal underwriting, says CEO Evan Greenberg.
Texas tort-reform measures have made it one of the hardest places in the United States to sue over medical errors, especially those that occurred in the emergency room.
Pandemic Disease Business Interruption Insurance will respond to loss of income arising directly out of shutdowns of healthcare facilities and diminished revenues in the aftermath of a quarantine.
Regulatory Business Interruption Ebola coverage would protect businesses from the direct and indirect costs of being closed due to a government-issued mandate, such as from the Centers for Disease Control in Atlanta.
Federal guidelines require Ebola-related waste to be handled in special packaging by people with hazardous materials training.
Willis said it created the portal in response to inquiries from employers as to what preparations and actions they should be taking.
Aon’s Ebola Response Room includes documents on Ebola-related travel exposures, crisis communication checklists, and environmental exposures of health care workers.
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