Insurance transactions grind to halt amid virus outbreak
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For Hong Kong insurers, the coronavirus outbreak is a second blow after the recent protests in the city-state, with insurance transactions virtually grinding to a halt, Bloomberg reports. Insurance sales are declining because industry rules require policyholders be physically present in Hong Kong before a contract can be finalized. "We believe sales to local customers could also be affected as customers may be reluctant to meet with agents on contagion concerns," analysts said.
