CORONAVIRUS CLAIMS WITHIN INSURERS' CAPITAL BUFFERS: S&P
European and US insurers have enough capital to ride out any losses from the current coronavirus outbreak, according to Standard & Poor’s (S&P). The rating agency said the outbreak has so far had little impact on the industry, and although there will be claims, these will be covered by insurers’ and reinsurers’ capital buffers. It said China’s importance in a “just-in-time” world, means business interruption claims can arise anywhere in the world. It added it expects insurers and reinsurers to screen their investment portfolios for exposures.
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