The insurer has been re-focusing its risk mix to prepare for any recession that follows the Covid-19 pandemic, and has already taken action that it hopes will reduce the impact of any future claims that arise as part of the anticipated economic downturn
The coronavirus has had a profound impact on the insurance industry, and right now insurers are in the high court as part of an FCA test case that will define the future of the UK business interruption market (you can follow that case live here).
But aside from the direct insurance implications, the wider implications of Covid-19 are set to create further challenges for insurers to grapple with, and many could last for years to come.
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