Coronavirus hitting global, local insurance industry: FPCCI.


KARACHI -- Linke many other sectors of the economy, coronavirus is also hitting the insurance industry with the subsectors of life, group, health, travel, logistics, crop and marine etc. coming under stress, FPCCI said Tuesday. The uncertainties associated with coronavirus pandemic which is a great challenge which also offers new opportunities for the insurance sector, it said. Global, as well as the local insurance sector, is unlikely to cushion coronavirus losses running unprecedentedly high, said Dr. Murtaza Mughal, Convenor of FPCCI Central Committee on Insurance. Talking to noted business leader Mian Zahid Hussain, he said that many insurers are not covering communicable-disease to prevent losses. While most of the insurance industry is nervous, the firms...

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