The life insurance industry is bracing for a surge in mental health claims amid expectations social isolation and financial hardship caused by the coronavirus pandemic will exacerbate existing conditions or cause new ones.
"Quite clearly, with the stress and strain, we’re going to see an increase in incidences of primary illness," Mr McCormack said. "The combination of quarantine, of lockdown, of care responsibilities simply increases the risk that those mental health conditions may become chronic.
Also speaking at the panel, Senator Jane Hume described mental health as a "looming crisis" for the life insurance industry and said the government – including the Treasurer and Health Minister – was alert to the issues and "open-minded" about ideas for reform.
With the media hysteria and panic assault on the public currently there’s no doubt there will be issues.
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