COVID-19 has not yet caused an increase in merger and acquisition-related insurance claims, but the pandemic is likely to lead to new trends in the sector, according to a report published by Liberty Mutual Insurance Co. on the Monday.
"This will inevitably be fed into the insurance process as insurers appear to be examining these areas in more detail," according to the report from the Insurer's Global Transaction Solution Unit.
The report states that possible new areas for COVID-19 related exposure include increased claims from third parties, claims related to significant customer insolvency and allegations related to misuse of various job retention systems implemented by national governments during the pandemic.
The report also states that a claim has been made under approximately 1
Liberty Mutuals data proposals gests that a maximum of 25% of notifications will result in a request for payment, which has not changed dramatically over the years despite the increased notification frequency, the report says.
More insurance and risk management news about the coronavirus crisis here .