Online Seminar: The impact of COVID 19 on property Insurance
Facing the challenges that the COVID-19 outbreak has imposed in terms of social gathering restrictions, our local Director Tomás Fourcade (Latin America South Cone) last week hosted an Instagram Live session to discuss how COVID 19 situation affects Property Insurance.
Over 500 participants consisting of Insurers, Insureds and Brokers mostly from Latin American countries, gathered together in an online session for an opportunity to discuss key topics facing the market today.
Tomás highlighted the importance of communicating risk aggravation according to Latin American insurance laws. In this regard, he assured: ‘Although Insureds don’t need to communicate changes which are in the public domain, and the general situation and measures taken by governments are known, how these affect each individual Insured depends on measures taken in each case which should be informed’.
In addition, he highlighted some recommendations on the critical role of communication and the need to identify changes, evaluate the risks and mitigate when possible. Other topics such as BI losses, caused by the lockdown and economic downturn, and the potential increase in political risks were also discussed.
The seminar included a valuable interaction with the audience, allowing participants to dig deeper into specific key issues affecting business today.