Virus claims might drop as quarantine rule relaxesBy Kao Shih-ching / Staff reporterClaims for COVID-19 insurance policies could drop next month as the government plans to relax one of its quarantine rules, but property insurers might still proceed with their capital injection plans, the Financial Supervisory Commission said yesterday. As many COVID-19 insurance policies have been designed to pay policyholders for being quarantined, property insurers would have fewer compensation claims following the rule change, the commission said. Photo: CNAEach property insurer could pay NT$1 billion or NT$2 billion (US$30.94 million or US$61.88 million) less in compensation based on the eased rule, Chinese-language news reports said. “COVID-19 insurance is unlike accident insurance or fire insurance, the premiums of which can be adjusted based on a fixed mechanism. Whether and how property insurers should compensate policyholders of COVID-19 insurance hinges on the nation’s anti-virus regulations,” Insurance Bureau Deputy Director-General Thomas Chang (張玉煇) said.

Source: Taipei Times October 25, 2022 19:12 UTC