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Underwriters puzzle over how to make pandemics insurable again

“We exclude war – it’s not insurable,” he said. But as industries spanning travel and hospitality to construction and manufacturing revert to a new normal, huge demand is causing insurers to figure out how they can put pandemic risk back in policies without making them prohibitively expensive. One example is the film and television industry. U.S. company SpottedRisk has devised a model built on years of data on the political and economic environment of film locations in 150 countries, a...
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Are pandemics uninsurable? Why some insurers are trying again.

London When much of the global economy locked down last year, insurers, facing estimated losses of more than $100 billion globally, reached straight for their red pens to strike pandemic cover from all new business policies. Denis Kessler, chairman and CEO of French reinsurer SCOR, summed it up when he told a recent conference that pandemic risk was like war. “We exclude war – it’s not insurable,” he said. But as industries spanning travel and hospitality to construction and manufacturi...
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Insurers Seek to Find Ways to Make Pandemics Insurable

Insurers Seek to Find Ways to Make Pandemics Insurable LONDON – When much of the global economy locked down last year, insurers, facing estimated losses of more than $100 billion globally, reached straight for their red pens to strike pandemic cover from all new business policies. Denis Kessler, chairman and CEO of French reinsurer SCOR, summed it up when he told a recent conference that pandemic risk was like war. “We exclude war – it’s not insurable,” he said. But as industries span...
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Underwriters puzzle over how to make pandemics insurable

BusinessWorld May 11, 2021 | 12:03 am LONDON — When much of the global economy locked down last year, insurers, facing estimated losses of more than $100 billion globally, reached straight for their red pens to strike pandemic cover from all new business policies. Denis Kessler, chairman and CEO of French reinsurer SCOR, summed it up when he told a recent conference that pandemic risk was like war. “We exclude war — it’s not insurable,” he said. But as industries spann...
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Underwriters puzzle over how to make pandemics insurable again - Netscape Money & Business

Underwriters puzzle over how to make pandemics insurable again By Carolyn Cohn Reuters LONDON (Reuters) - When much of the global economy locked down last year, insurers, facing estimated losses of more than $100 billion globally, reached straight for their red pens to strike pandemic cover from all new business policies. Denis Kessler, chairman and CEO of French reinsurer SCOR, summed it up when he told a recent conference that pandemic risk was like war. "We exclude war - its not insura...
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How SpottedRisk and TigerRisk Tamed 'Live Cat' COVID Event for Entertainment Insureds

How SpottedRisk and TigerRisk Tamed ‘Live Cat’ COVID Event for Entertainment Insureds In the early months of the pandemic last year, brokers just couldn’t place insurance for the entertainment industry. In late February 2020, underwriters began excluding communicable disease from all of the underlying production insurance policies. No insurer wanted to touch the risk. In stepped SpottedRisk, the Boston-based managing general agent, which saw an opportunity in the midst of this major marke...
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