Don't know that specific, tho banks, when providing a loan, for extra payment, provides insurance in case one loses a job and is unable to pay out. But then. Payments were stoped with gov permission & banks gets those bailouts anyways. I think there's more problems with insurence who dealt with wild fires and etc. A guess like random shooting in the dark.
I don't know. First it was just a strategic guess + heard a person, who has 15k ins agents, tellin that they did well durin covi. Reminds of folks suing CCP over covi. And with expectancy of profitable outcome. Word. Only time wasted via thought process and if real action taken.
https://www.forbes.com/advisor/life-insurance/company-out-of-business/ https://www.atlas-mag.net/en/article/bankruptcy-of-insurance-and-reinsurance-companies-in-the-usa
So you see just having covid even if someone survives it as an insurance premium price increasing factor? Wouldn't it be a sign that they can fight the virus and survive instead?
Excellent questions... I just see a lot of angry people that survived Covid-19 and going through a lockdown to then fight back against any increase in their insurance premium or denial of insurance. wrbtrader
I was thinking more about the cost of the lockdown and the insurance claims it would cause then the cost to the insurance companies. Even if they don't default they could have their profits cut massively this would impact the stock market if it happened.
Insurance companies are going to be fine - safest place in the world for your money is inside of annuties and whole life policies in life insurance companies. Dead bang safe.
Every Business Insurance Policy is going to have a rigourous "Force Majeure" exemption. The exception would be Companies who purchased specific "Force Majeure" insurance policies or riders. http://www.rmmagazine.com/2020/03/1...ce-considerations-for-covid-19-cancellations/ https://rpjlaw.com/force-majeure-and-insurance-provisions-for-business-losses-sustained-by-covid-19/ https://www.skadden.com/insights/pu...away-litigation-exposure-and-insurance-during
In the US, the Hartford Insurance Company was given a loan of $3.4B from the Treasury and as far as I can tell they already paid it back. https://projects.propublica.org/bailout/list
@morganist Aren't you an economist? You have no idea what a global pandemic's repercussions are? And of all places to ask, you ask on ET. Talk about the blind leading the blind.