We are witnessing history unfolding as a global industry that is profoundly connected and affected – personally and professionally – by the COVID-19 coronavirus pandemic.
This outbreak raises many questions and will potentially shape the world’s markets and economy for generations to come. So it's useful to understand the potential insurance and reinsurance market implications from your point of view, those working in it. This survey is intended to capture a snapshot of this historic moment, create useful data to inform actions, and take the pulse of the market at this challenging time.
We wish our readers, their families and colleagues all the best at this difficult time!
To begin, here are a few insights into the demographics of our reinsurance market survey respondents
As you'll see below, the majority of respondents have responsibility for, or provide input to, reinsurance and retrocession buying decisions
We asked respondents to rate the claims exposure of these lines of business to the Covid-19 coronavirus pandemic, (1 being low, 4 being very high)
We then asked for the line of insurance and reinsurance business thought likely to suffer the most
We asked our respondents to rank these issues for their potential impact to the industry as it deals with the pandemic crisis (1 being most significant)
We asked how concerned respondents were about legal action to force pandemic business interruption and shutdown claims into property programs
We asked our respondents how the pandemic will impact reinsurance rates and their own demand for reinsurance or retrocessional protection
We hope you've found these insights into the insurance and reinsurance market implications of the Covid-19 coronavirus pandemic useful.
Please share our survey results with your colleagues and contacts to give them a glimpse into the sentiment of the global reinsurance market at this important time.