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LONDON, Dec 15 (Reuters) - Lloyd’s of London and insurtech firm Parsyl have launched a programme to insure the distribution of COVID-19 vaccines in emerging markets as drugmakers race to address the biggest global logistical challenge since the Second World War.
The Global Health Risk Facility (GHRF), made up of 14 insurers and reinsurers, has been set up to address the challenges of transporting temperature-sensitive vaccines, and will be supported by $26.7 million in funding from the U.S International Development Finance Corporation, the companies said on Tuesday.
Lloyd’s, Parsyl to Insure Emerging Market COVID-19 Vaccine Rollout December 15, 2020
LONDON, Dec 15 Lloyd’s of London and insurtech firm Parsyl have launched a program to insure the distribution of COVID-19 vaccines in emerging markets as drugmakers race to address the biggest global logistical challenge since the Second World War.
The Global Health Risk Facility (GHRF), made up of 14 insurers and reinsurers, has been set up to address the challenges of transporting temperature-sensitive vaccines, and will be supported by $26.7 million in funding from the U.S International Development Finance Corp., the companies said on Tuesday.
The DFC loan will be used to capitalize a new public-private Lloyd’s syndicate, which will start operating in January, and allow the GHRF to offer cost-effective insurance policies for shipments of vaccines and medical products to developing countries.
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Lloyd s of London, Parsyl launch initiative to insure COVID-19 vaccine distribution Lloyd s of London and Parsyl Inc. have launched a groundbreaking insurance initiative to protect and support the distribution of COVID-19 vaccines as a global vaccination programme to halt the deadly virus gathers pace.
FILE PHOTO: Vials labelled COVID-19 Coronavirus Vaccine are placed on dry ice in this illustration taken, December 4, 2020. REUTERS/Dado Ruvic/Illustration
15 Dec 2020 05:56PM Share this content
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LONDON: Lloyd s of London and Parsyl Inc. have launched a groundbreaking insurance initiative to protect and support the distribution of COVID-19 vaccines as a global vaccination programme to halt the deadly virus gathers pace.
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LONDON Lloyd’s of London and insurtech firm Parsyl have launched a development finance-backed program to insure the distribution of COVID-19 vaccines in emerging markets as a global vaccination program to halt the deadly virus gathers pace.
COVID-19 vaccine distribution is a headache for insurers, who are concerned about the extra-cold temperatures required to transport vaccines such as the one developed by Pfizer and BioNTech, the first Western vaccine off the drawing board. Theft or cyber attacks on the supply chain are an added worry.
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