Report Says Governments Must Be “Insurers of Last Resort” Against Pandemic Risk

The report concludes that business interruption risk is uninsurable by insurers alone.
April 28, 2021

A new report by the Geneva Association, Public-Private Solutions to Pandemic Risk, urges governments around the world to work with the insurance industry to lessen the enormous protection gap that resulted from the coronavirus pandemic.

The report concludes that business interruption risk is uninsurable by insurers alone, citing data indicating that projected global output losses related to the pandemic totaled more than $4 trillion in 2020, while the annual premiums collected by the world’s property/casualty insurers totaled $1.6 trillion. Only an estimated $30 billion of those premiums are for business interruption policies.


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