COVID-19 general insurance losses seen higher than 9/11 claims- broker [Reuters (UK)]
Willis Towers Watson Public Limited Company - Ordinary Shares (WLTW)
Last willis towers watson public limited company - ordinary shares earnings: 4/30 06:01 am
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Source: Reuters
COVID-19 general insurance losses seen higher than 9/11 claims: broker - Reuters 2 Min Read (Reuters) - Insurance broker Willis Towers Watson ( WLTW.O ) on Friday estimated general insurance losses between $32 billion and $80 billion across key classes in the United States and UK from the novel coronavirus, surpassing claims from the 9/11 attacks. A report by the broker showed early estimates for U.S. and UK business interruption, contingency, U.S. Directors & Officers, U.S. employment practices, liability, U.S. general liability, U.S. mortgage, trade credit and surety and U.S. workers’ compensation. An “optimistic” scenario or a return to a pre-COVID-19 state following 3 months of social distancing, would mean $11 billion of insured losses, while a “moderate” scenario, a gradual return following 6 months of social distancing, would mean a bill of $32 billion to insurers. Social distancing for a year under a “severe” scenario - a health impact approaching the scale of the 1918 flu p
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