News / Coronavirus advice: Insurance
05-03-2020 / Insurance
Whilst many remain sceptical about how promptly COVID-19 was first reported, the World Health Organisation says that the reporting at the end of December 2019 allowed many countries to take early steps to prepare for further cases of COVID-19 and to minimise its spread. Notwithstanding the position taken by the World Health Organisation and the initial containment within China, the speed at which COVID-19 has spread, now to over 70 other countries and at a rate faster than the more deadly MERS-CoV virus, has suprised many. The rate of spread has led to significant disruption to commerce and supply chains and this will necessarily impact retail and commercial insurances. We touch on some of the commercial lines of insurance likely to be affected in this note.