The Lebanese insurance scenario amid threats of global collapse

The Lebanese insurance scenario amid threats of global collapse

Given that the study's projected pandemic threat was quantified at $49.9 billion, accounting for 9 percent of the index's total global GDP at risk of $577 billion, the conclusion imposes itself that the risk of a pandemic was known but thoroughly misunderstood and insufficiently modeled by leading risk experts.. For the immediate physical threat perspective of the coronavirus risks, insurance companies and insurance professionals are generally not in the vision line when compared with audience-facing economic activities during the pandemic.. Specialized agency Fitch Ratings said in April that it revised its general outlook to negative for all insurance companies/regions globally and specifically mentioned negative outlooks for the life insurance sectors of developed markets and the health insurance sector in the US.. Consultants Bain & Co wrote in early April that health insurance payers of COVID-19 covers face risks of long-term respiratory care costs, medical loss ratios, and weakening of returns on financial markets and assets.. In contrast to a mixed outlook of highly probable near-term costs and possible long-term opportunities in health insurance lines, insurance experts from various organizations have rattled off warnings about the pandemic's impact on insurers and reinsurers, which could reach far beyond the cost