As the Coronavirus continues to spread across the globe, the Insurance Association of China (IAC) has said it will ask the country’s insurers to speed claims connected to the outbreak.
With the World Health Organisation set to declare the outbreak now constitutes a global health emergency today the IAC has said that Chinese policyholders who have been infected will be able to access a speedier claims paying systems.
It has called on insurers to create fast track systems and increase their claims departments and with access to reserves in preparation for a flood of claims and the infection rates and with it the death toll rises.
Insurance companies have already begun the process of donating money and supplies to the efforts to contain the outbreak including protective clothing food and medical supplies.
The IAC has also said it believe insurers need to create specific policies and coverages for those emergency personnel which are being required to tackle the outbreak and do so at reduced premiums to offer further support.