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COVID insurance claims may exceed NT$41 billion: financial regulator

Taipei, May 23 (CNA) The local insurance industry is expected to face more than NT$41 billion (US$1.38 billion) in COVID-19 claims due to the ongoing surge of domestically transmitted cases, the head of the Financial Supervisory Commission (FSC), Taiwan's top financial regulator, said on Monday. ....

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COVID insurance claims could pass NT$41bn: FSC

The local insurance industry is expected to face more than NT$41 billion (US$1.38 billion) in COVID-19 claims amid a surge in domestically transmitted cases, Financial Supervisory Commission (FSC) Chairman Thomas Huang (黃天牧) said yesterday.
In a meeting of the legislature’s Finance Committee, Huang cited an internal assessment that forecast insurance claims would surpass a NT$41 billion estimate made by a legislator.
Chinese Nationalist Party (KMT) Legislator Lai Shyh-bao (賴士葆) said that non-life insurance companies had sold about 7.6 million COVID-19 policies that are to pay holders if they test positive for the disease or are placed in quarantine as close contacts of ....

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