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Major U.S. insurers see lower coronavirus costs than expected

from Insurance Business Magazine

Major U.S. insurers see lower coronavirus costs than expected Insurance Business Magazine A summary of the impacts of the coronavirus pandemic on U.S. insurers’ bottom lines so far would read, “It could’ve been worse.” According to analysts cited by Reuters, COVID-19 has dealt what they call a “relatively modest $2.5 billion blow” in Q2 2020 to five insurers that have large US operations. This figure is a lot lower than initially feared and has been absorbed by the industry without insurers resorting to touching their capital, but there could be more bad tidings in the form of major claims just around the corner, considering that the coronavirus continues to spread. READ MORE

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