2022 Focus Series: The Covid-19 Coverage Gap: How Insurers Can Respond

Price : $999.00

Going forward, the industry has the opportunity to adapt and make changes to products to maintain relevance with consumers. The answer is not a drastic, impulsive overhaul of products and services, but is also not strictly straightforward. If the industry is to do this, it will take a broad spectrum of changes, including a combination of leveraging and deploying capabilities that already exist, working to make sure products are relevant for insureds and, occasionally, working with public bodies—state and federal governments—to ensure adequate protection for insureds.

Table of Contents:


Executive Summary

  • Industry Exposure Points Change

  • Increase in Nontraditional Risks

  • Closing the Coverage Gap

Industry Exposure Points Change

  • Exposure Reductions

Increase in Risks vs. Traditional Coverage

  • Economic Impact

  • Litigation Ensues Economic Slowdown

  • Workers' Compensation Impacts

  • Insurer Impacts

  • Customer Rebates

  • Conclusion

Closing the Coverage Gap

  • Business Interruption

  • Auto

  • Workers' Compensation

  • Travel and Event

  • Conclusion


As the world slowly emerges from the worst of the Covid-19 pandemic and better learns to tolerate the virus’s seemingly permanent role in day-to-day life, insurers are left servicing customers who have evolved rapidly in the past two years. A broader and larger portion of the customer base has adopted new habits and preferences, such as making purchases and having servicing completed remotely. Furthermore, the core exposures that make up the insurable marketplace in our economy have gone through evolutionary changes at an accelerated pace.