Coronavirus outbreak will cost global ins. sector $203 bn
Thursday, 05 14 2020, Category: Insurance and Reinsurance, Country: World
The deadly coronavirus outbreak will cost the global insurance industry about $203 billion, the Lloyd’s of London insurance market forecast on Thursday.
“The estimated 2020 underwriting losses covered by the industry as a result of COVID-19 are approximately $107 billion, on par with some of the biggest major claims years for the industry, such as when catastrophic windstorms have struck” in 2005 and 2017, it said in a statement.