In the U.S.
According to Johns Hopkins University (as of April 20, 2020):
- Total U.S. cases: 760,570
- Total U.S. deaths: 40,724
RIMS issued a letter to the U.S. Department of the Treasury, Congress and President Trump requesting the creation of a pandemic risk insurance program to accelerate economic recovery. In the letter, RIMS asserts that a pandemic risk insurance program would provide greater access to capital from lenders and establish a viable insurance market. It would also provide greater resilience to U.S. organizations in the event of a future pandemic.
Rep. Mike Thompson (D-Calif.) introduced the Business Interruption Insurance Coverage Act of 2020, a bipartisan bill to ensure businesses that purchase interruption insurance won't get their claims denied because of major events, such as the coronavirus pandemic. In response, industry leaders voiced opposition to the bill, with one saying the bill, and others like it, "would apply business interruption coverage where it doesn't exist, exacerbating existing disruptions and further delaying our nation's economic recovery."
Six class-action lawsuits were filed on Friday (April 17) against insurance companies for denial of policy claims businesses had purchased to protect against business interruptions, according to a press release. The plaintiffs are represented by DiCello Levitt Gutzler LLC, Lanier Law Firm PC, Burns Bowen Bair LLP, and Daniels & Tredennick. The cases include:
- Gio Pizzeria & Bar Hospitality, LLC and Gio Pizzeria Boca, LLC v. Certain Underwriters at Lloyd's, London, U.S. District Court for the Southern District of New York
- Rising Dough, Inc., et al. v. Society Insurance, U.S. District Court for the Eastern District of Wisconsin
- Bridal Expressions LLC v. Owners Insurance Company, U.S. District Court for the Northern District of Ohio
- Caribe Restaurant & Nightclub, Inc. v. Topa Insurance Company, U.S. District Court for the Central District of California
- Dakota Ventures, LLC d/b/a/Kokopelli Grill v. Oregon Mutual Insurance Co.; U.S. District Court for the District of Oregon
- Christie Jo Berkseth-Rojas DDS v. Aspen American Insurance Company; U.S. District Court for the Northern District of Texas
United Airlines said it expects a $2.1 billion loss in first-quarter 2020 as a result of dramatic declines in travel from the coronavirus.
The CEO of Chubb, Evan Greenberg, told Bloomberg this regarding pressuring insurers to cover business interruption losses: "The insurance industry is a fundamental part of the economic plumbing of this country. Forcing insurers to foot the bill for losses not covered by policies "would do great damage. It would bankrupt the industry."Around the world
According to the World Health Organization (as of April 20, 2020):
- Total cases globally: 2.31 million
- Total deaths globally: 157,847