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Global insurance recovery will be faster, stronger than in 2008: Swiss Re

By Alwyn Scott NEW YORK (Reuters) - The global insurance industry is poised to recover more quickly and forcefully from the pandemic than it did after the 2008 financial crisis, despite such obstacles as low interest rates and inflation risk, insurer Swiss Re AG s chief Americas economist said on Friday. Unlike the prior crisis, the pandemic did not weaken insurers overall capitalization or financial strength, which allows companies to write new coverage and increase revenue, economist Thomas Holzheu told Reuters. Writing new policies was more difficult in 2009 and 2010 when insurers were reeling from capital losses, slow economic growth and depleted incomes of companies and individuals.

U S Senate panel hears from Chubb, others on insuring pandemic risk

U.S. Senate panel hears from Chubb, others on insuring pandemic risk 07/22/2021 | 05:51pm EDT Send by mail : Message : Required fields NEW YORK, July 22 (Reuters) - New Jersey business owner Adenah Bayoh told a U.S. Senate committee hearing on Wednesday she paid about $275,000 a year to insure her group of restaurants, only to discover the limits of her policy during the coronavirus pandemic. When the pandemic hit and the governor ordered my businesses to close, I was shocked that my insurance company and coverage was not there for me, said the Liberia native who immigrated to the United States at age 13 and now owns seven

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