COVID-19 Wrap-up: Pandemic Complicates Hurricane Preparation | The trusted source of unique, data-driven insights on insurance to inform and empower consumers.

The National Oceanic and Atmospheric Administration (NOAA) an above-normal hurricane season in terms of the total number of storms.Its   calls for 13-19 named storms, 6-10 hurricanes, and 3-6 major hurricanes.This year, the COVID-19 pandemic adds a layer of difficulty to hurricane preparedness, particularly when it comes to evacuation plans.  officials anticipate the challenge of preparing shelters with social distancing measures in place and have asked FEMA for guidance.

New Orleans is advising residents to plan to include hand sanitizer and face coverings in their emergency home kits and go-bags.Likewise, the impending hurricane season subjects managing pandemic response and reopening the economy in its wake to additional uncertainty.Artemis, May 26, 2020 , Bloomberg Green, May 25, 2020 New York Times, May 24, 2020 Artemis, May 26, 2020 Global Risk and Insurance Impacts The European Commission should create a European Union-based resilience framework to provide insurance cover for catastrophes, such as pandemics and huge cyberattacks, the Federation of European Risk Management (FERMA) said Tuesday.

that the proposed framework would involve public-private partnerships and could respond to events that create hefty business losses without physical damage.Commercial prices climb Prices for commercial insurance are rising at rates not seen for almost two decades, compounding pressure on businesses that are already struggling to deal with the coronavirus crisis, .Industry experts say that prices for some types of cover are doubling as insurers attempt to repair some of the damage the crisis has inflicted on their balance sheets.

Insurers are facing a double hit from coronavirus, the says.Claims from customers could pass $100 billion in total, while there has also been a hit to reserves from volatile financial markets.French ruling puts coronavirus claims on global menu that AXA will meet the bulk of business interruption claims from some restaurant owners in France after losing a court case seen as a potential precedent for coronavirus-related disputes across the world.

A Paris court ruled last week that AXA should pay a restaurant owner two months of revenue losses caused by the virus pandemic.AXA had argued its policy did not cover business disruption caused by the health crisis.

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