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Black swan event fears plague global insurers
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Dismiss Black swan event fears plague global insurers
By Lucca de Paoli, Katherine Chiglinsky and Benjamin Robertson
December 14, 2020 10.05am
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There aren t many contexts where $US2 trillion ($2.7 trillion) seems like a paltry sum. Then a pandemic comes along.
The economic fallout from COVID-19 has left insurers issuing existential warnings and businesses discovering they weren t covered. It s resulted in courts packed with lawsuits and governments scrambling to head off more pain.
Crippled by the pandemic, insurers fear they may not be ready for a black swan event.