Insight

Property and casualty insurance & COVID-19

COVID-19: Financial Impact Considerations in Property & Casualtiy Insurance

Ian Sterling

Ian Sterling

Advisory Managing Director, Actuarial, KPMG US

+1 856-912-7242

Chris Nyce

Chris Nyce

Principal, Advisory, Actuarial, KPMG US

+1 610-341-4803

Scott Weinstein

Scott Weinstein

Principal, Advisory, Actuarial, KPMG US

+1 404-222-3594

As novel coronavirus cases multiply across the country, states and localities have put in place social distancing and shelter-in-place orders to slow the spread of the virus. The markets are down significantly and there has been a staggering number of unemployment filings. Coronavirus has disrupted all aspects of life in the country, and the full health and economic effects of COVID-19 won’t be known for months. For Property and Casualty (P&C) insurers and self-insurers there will be impacts on many aspects of the business and coverages, both directly and indirectly. The article addresses the potential impact to claims costs and premiums across P&C coverages and actions that companies should consider in responding to not only the current challenges but also the future responses and opportunities as well.

COVID-19: Financial impact considerations in P&C insurance
Download this article to learn more about the potential impacts of COVID-19 on the P&C insurance industry and what actions you should consider taking.