Insurers face double whammy from coronavirus outbreakPosted On: Mar. 13, 2020 6:16 AM CST
Insurers across the world face double whammy as the coronavirus outbreak is expected to result in a sharp rise in payouts at a time of big investment losses, The Business Times reported citing Reuters. The early prognosis was for low levels of claims from the outbreak because epidemics are excluded from many business insurance policies. But as recession threatens the global economy along with rising insolvencies, all sorts of companies are coming under strain.