Facing A Perfect Storm Of Events, Insurers Brace For A ‘Turbulent Future’

With natural catastrophes starting to hit, the economy in rough shape, and the courts poised to weigh in on potential business interruption exposures, insurance companies are buckling in for a rough ride ahead, a recent report warns.

Natural catastrophe (NatCat) claims can be enough of a financial hit on their own, but when combined with a market buffeted by business closures due to the coronavirus pandemic, as well as potential payouts related to pandemic business interruption claims, well….

Data and analytics company GlobalData is throwing up a warning flag to the industry.

“The insurance industry is braced for a turbulent future,” said Daniel Pearce, GlobalData’s senior insurance analyst.