Browsing: Underwriters in EAC

Tax increase

The Covid-19 world pandemic has disrupted our lives in a way most can only fantasize about. It has not spared any sector and some are even making a kill from it. Talk of the entrepreneurial spirit in this country!

The same cannot be said of the insurance sector, however. For starters the insurance industry has stated that Covid-19 is not coverable because it falls under pandemics which are an exclusion in a typical insurance cover. A pandemic has to be defined by World Health Organisation (WHO) as such for it to qualify as an exclusion in an insurance product. Few insurance policies cover pandemics despite the potential for disaster, because the risk is not well understood and also difficult to price. But going forward there is a huge interest from companies looking for protection against business interruption suggesting that pandemic policies are the next big thing in commercial insurance.

When …