Added: Carey Ulibarri - Date: 19.09.2021 22:57 - Views: 46234 - Clicks: 4684
As the COVID coronavirus pandemic continues to unfold, Reinsurance News has collaborated with ILS focused sister-site Artemis to take the pulse of the global reinsurance market at this unprecedented and challenging time. The COVID Market Survey includes responses from hundreds of identifiable market participants, of which more than half have responsibility for, or provide input to, reinsurance and retrocession buying decisions.
Uncertainty surrounding the virus outbreak and its potential impacts on the insurance and reinsurance industry remains, and only time will tell exactly how the risk transfer sector responds to the current crisis. In contrast, just 7.
Potential for business interruption legal action also came high when ranked against other issues potentially impactful for the industry as it tackles the virus outbreak. Interestingly, the aggregation of COVID claims across all lines came in third, which supports analyst commentary that for now at least, the expectation is for the investment side of the balance sheet to take more of a hit than the underwriting side.
The large majority of survey respondents expect losses within the property reinsurance and catastrophe forced bi to be low to medium, which is the same view held for retrocession business. For insurers and reinsurers of all shapes and sizes these are challenging and unprecedented times. Amid all of the uncertainty, this survey is deed to capture a snapshot of this historic moment, create useful data to inform actions, and take the pulse of the market at this time.
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