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.
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.
