Losses of insurance companies due to pandemic coronavirus can reach 203 billion dollars, is comparable with the damage from typhoons. This forecast was given the largest insurance market Lloyd's of London.
More than half of the amount (107 billion dollars) will go to insurance payments, another 93 billion will be in investment losses. Evaluation Lloyd's, he will need to meet the claims volume from 3 to 4.3 billion dollars. Costs may increase if the quarantine and restrictive measures will continue in the next quarter.
2020 could be for insurance companies in the world one of the worst in history along with 2017, which coincided with large-scale storms (Harvey, Irma, and Mary), and from 2001, when there was the terrorist attack of 11 September in the United States.
The head of the Lloyd's John Neal said that no one could foresee a scenario in which many customers will suffer financial losses around the world, and “the uniqueness of COVID-19 is not only a devastating ongoing impact on man and society, but also in the economic shock.” According to him, the recession will lead to lower premiums.
Losses of world economy from the coronavirus can be $ 320 billion for the quarter, as analysts estimated the insurance company Euler Hermes.