Insurance resilience tested by Covid-19 as global protection gap climbs to $1.24trn

Resilience

New research from Swiss Re has shown the importance of insurance in economic recovery post-coronavirus

Covid-19 is expected to hit global financial resilience hard, with research from Swiss Re forecasting a 20% drop in global resilience as a result of the pandemic as stimulus packages deplete economies’ fiscal and monetary headroom.

Insurance resilience has also been hit hard by the pandemic, with the global insurance protection gap for health, mortality and natural catastrophe risks rising to a new high of $1.24trn in 2019.

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