In a double blow, insurers have also lost money due to falling markets, slashing the investments they use to pay out claims.
Insured losses are likely to total $107 billion, similar to natural catastrophe losses in 2005 led by Hurricanes Katrina, Rita and Wilma and to 2017 including Hurricanes Harvey, Irma and Maria, Lloyd’s said.Its estimates do not include life insurance and assume continuing social distancing and lockdown measures in 2020, as well as a drop in global GDP.
Small businesses in Britain are battling insurers who they say have denied them payments for disruption. The insurers say most small business policies do not cover the pandemic.Neal said the UK domestic property sector accounted for less than 2% of the Lloyd’s market, adding that “any valid claims should be paid”.
Is that all ? After that, no more claims ?
Los seguros son seguros..
The trickle in the insurance sector could start to open cracks.
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