Insurance market has been the ‘fall guy’ of the Covid-19 pandemic

finger pointing

Lawyer says that the ‘insurance industry is fundamental’ and that it ‘needs to be supported rather than just attacked’

The insurance market has been labelled as the “fall guy” of the Covid-19 pandemic as frustrated policyholders fail to align their claims expectations with the insurance sector’s purpose and coverage remits said Toby Vallance, a partner at law firm DAC Beachcroft who deals in marine insurance.

Speaking on the debate surrounding coronavirus-related business interruption (BI) claims, Vallance told Insurance Times: “I feel for the customers [of] the insurance market because these are incredibly difficult times and we’re looking at a recession, so I understand that people are looking at all possible avenues, but I also think the insurance market has been a bit of a fall guy for what are the expectations of what the insurance market will cover and I don’t think there’s been a fair review.”

Read more…

(If you’re already a subscriber, please sign in here.)

Get access with a 14-day free trial

This article is usually available exclusively to subscribers.

Subscribe for full access - Take out a print and online or online only subscription

For a limited period, you can enjoy all the benefits of an online subscription free for 14 days. Sign up now to read this article in full and to enjoy unlimited access to premium online content, a digital edition of the latest issue, plus an online archive of back issues.

Also, as a registered user, you will be able to -

  • Access unlimited breaking industry news as it happens
  • Sign up to a choice of daily and weekly newsletters

Register to view free premium content