AGCS report: traditional property and liability claims have been subdued during lockdowns but this was more than outweighed by a surge in Covid-19 related claims notifications, particularly from the entertainment industry. Impact of the pandemic will shape future loss trends for companies in the mid- and long-term with changes to working environments, travelling habits and supply chain networks. Detailed Covid-19-driven loss trend analysis for Property/Business Interruption, Liability, Financial Lines and Aviation insurance. JOHANNESBURG/LONDON/MUNICH/NEW YORK/PARIS/SAO PAULO/SINGAPORE- Media OutReach - 6 October 2020 – The Covid-19 pandemic is one of the largest economic loss events in history for companies and insurers alike. However, it’s not only the magnitude of the impact which is unprecedented. Claims trends and risk exposures are likely to evolve in both the mid- and long-term as a result of the pandemic. With the reduction in economic activity during lockdown phases, traditional property and liability claims have been subdued, most notably in the aviation and cargo sector, but also in many other industries with fewer accidents at work, on the roads and in public spaces, according to a new report Covid-19 — Changing Claims Patterns from Allianz Global Corporate & Specialty (AGCS). “The coronavirus outbreak has reduced risk in some areas… Read full this story
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