Allianz Global Corporate & Specialty chopper view of global claims trailing the Covid-19 pandemic report that traditional property and liability claims have been subdued during lockdowns.
This first capture as good as it might sound, is a remark suited for the horizon, a zoom would not have an effect of relief as “this was more than outweighed by a surge in Covid-19 related claims notifications, particularly from the entertainment industry.”
AGCS report made available to Businesspost.com.ng peeps into the trends created by the pandemic and emerging patterns in new human approach and succinctly stated that “the impact of the pandemic will shape future loss trends for companies in the mid-and long- term with changes to working environment, travelling habits and supply chain networks.”
AGCS spiralling press release provide a detailed screen shot Covid-19 driven loss trend analysis for property /business interruption, liability, financial lines and aviation insurance.
“We have seen claims in some lines of business, such as entertainment insurance, surge during Covid-19, while traditional property and liability claims have been subdued during lockdown period,” says AGCS Global Head of Claims, Philipp Cremer. “There is still the potential for claims to occur as factories and businesses restart after periods of hibernation, and given the longer development patterns for third-party claims in long-tail lines.”