Pro Insurance Solutions Senior Claims Managers Iain Turnbull and Alan Metzger enjoy a lively discussion with The Voice of Insurance podcast host Mark Geoghegan, exploring the potential impact of COVID-19 on the claims environment. The podcast also features an introduction with Pro Head of Claims Richard Lawson.
In the days before the first 2020 lockdown, 45 new firms were incorporated with the word ‘Corona’ or ‘COVID-19’ as part of their name, including “COVID-19 Virus Compensation Ltd”, “Coronavirus Claims Ltd” and “Coronavirus Compensation Ltd”.
Clearly the compensation firms feel there is strong potential for claimants facing losses as a result of the pandemic crisis, but how is the insurance industry looking at the issue?
In this podcast, Mark leads a varied discussion with Pro’s leading claims experts, covering the potential long and short-tail public liability impacts of COVID-19, exploring the types of claims currently being seen, the defences being used and what can be expected to come through in the future.
From an employers’ liability and public liability perspective, COVID-19-related claims will come from a wide range of sources, although not all will have merit.
It is also clear that COVID-19 is going to have a significant impact on the future disease claims environment, in particular issues over long COVID-19, causation, possible interactions with other conditions, and knock-on impacts on treatment delays for other illnesses.
After initially facing delays, court systems have now accelerated their digitisation process and remote cases are being heard – Pro’s experts are watching closely and advising where possible.
There is a long way to go on the COVID-19 claims journey, but Pro’s experts emphasised that the most important aspect is to continue to treat all meritorious claimants fairly and to process claims as quickly and efficiently as possible.
Listen to the full podcast here.