Double triggers and risk pools central to innovative pandemic covers

Credit: iStock/coffeekai

South Africa’s experience with non-physical damage business interruption (BI) claims following the 2020/2021 Covid-19 pandemic illustrates the devastating economic impact of this type of risk event and the need for a broader solution, according to Munich Re of Africa (MRoA). “The estimate for loss of profit claims due to non-physical damage BI comes in at ZAR20-30bn; claims from a single…

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