This presentation on the impact of COVID-19 on the property/casualty insurance industry given by Triple-I CEO Sean Kevelighan and Senior Economist Michel Leonard on March 20 highlights the industry’s financial strength and noted that insurers providing workers compensation coverage to hospitals, first responders and law enforcement face the highest exposure to COVID-19 related claims.
Tough times bring out the best in many people, and the ongoing COVID-19 pandemic is no exception. Citizens around the world are donating to crisis response organizations, and corporations such as MetLife are also are rising to the occasion.
Whether workers compensation claims related to COVID-19 will be paid is a question to be answered case by case and state by state. While some occupations – for example, health care workers and first responders – might be said to have a higher probability than others for exposure to COVID-19, whether the disease is compensable under workers comp is uncertain.
MALPRACTICE INSURANCE- Professional liability coverage for physicians, lawyers, and other specialists against suits alleging negligence or errors and omissions that have harmed clients.
COMMUNITY RATING LAWS- Enacted in several states on health insurance policies. Insurers are required to accept all applicants for coverage and charge all applicants the same premium for the same coverage regardless of age or health. Premiums are based on the rate determined by the geographic region’s health and demographic profile.See Full Glossary
For immediate release New York Press Office: (917) 923-8245; email@example.com NEW YORK, March 28, 2020—U.S. Read More
For immediate release New York Press Office: (212) 346-5500; firstname.lastname@example.org NEW YORK, March 20, 2020—The U.S.’s auto, home, and commercial insurers have the financial resources to meet its obligations during the COVID-19 crisis, according to a presentation the Insurance Information Institute (… Read More