GILC uncovers global insurance law themes in wake of COVID-19

Global Insurance Law Connect has launched a detailed review of some of the common themes of coverage, legal and regulatory issues observed by its specialist insurance lawyers in the wake of COVID-19. The report also looks at potential emerging claims and their impact on the local insurance industry.

Chairman of the group, Jim Sherwood, says there are some common issues in certain lines. Travel, life and event cancellation, for instance, are all seeing limits of coverage being pushed in respect of COVID-associated losses.

"Disputes involving business interruption policies have triggered coverage challenges in numerous jurisdictions," he explained. "While the conduct of governments falls under scrutiny, we are also seeing the conduct of company leadership coming under the microscope as businesses try to navigate their way back to financial strength.

“Even as 2020 began, few of us imagined that the world was about to face one of the largest pandemics in history, changing the way we live and the economies our businesses operate in. While countries around the globe endure different stages of handling the pandemic, it is undeniable that the impact will be felt long term.”

These events have changed priorities for all insurers in the short-term, Sherwood adds, but there are always specific local, cultural, political and geographical challenges.

More on this in the next issue of CIR Magazine.

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