Brokers Call For Public-Private Tie Up On Pandemic Solution

Law360, London (August 28, 2020, 9:48 PM BST) -- The U.K. government needs to provide a backstop for pandemic insurance cover or else the policies will be so restrictive that they would be unlikely to ever pay out, the boss of a broker trade body warned.

Christopher Croft, chief executive of the London and International Insurance Brokers Association, said in a statement Friday that private sector insurers lack the funds to be able to properly protect businesses against losses related to pandemics.

The statement comes as the insurance market is weighing the creation of a pandemic reinsurer that would enable policies to be sold affordably and would be backed by...

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