Insurers criticized for pandemic response

Posted On: Jul. 2, 2020 7:59 AM CST

David Williams, managing director of underwriting and technical services at Axa Insurance U.K. PLC, said that insurers' response to the COVID-19 pandemic could have been better as they already anticipated an outbreak, S&P Global reported. The insurance industry could be blamed for continuing to use old, archaic wordings that go back decades and is not fit for business interruption policies, Mr. Williams added.