No protection against viruses: Insurers let companies down

The number of corona cases is increasing in Switzerland, a second lockdown should actually be prevented at all costs. Because the economic damage would be enormous. Nevertheless, this scenario could arise in autumn or winter if the number of cases continues to rise.

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However, companies cannot insure themselves against such a scenario, and there is no longer insurance protection against corona-related business closings in Switzerland.

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Because the insurance companies quickly adjusted their contracts after the first lockdown. Even the Mobiliar, which pays its customers compensation with an epidemic insurance without hesitation, has changed the conditions, writes the “NZZ am Sonntag” and quotes from a letter from the Mobiliar to its customers: “The previous epidemic insurance is replaced by a new hygiene insurance replaced. “

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Mobiliar terminates contracts

The 340 million francs that Mobiliar has paid for corona damage so far are apparently enough. «A continuation of the existing contract is not possible. If you choose not to adjust your contract, Mobiliar will make use of its right to terminate. “

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Other insurers have made comparison offers to their customers, also to avoid lengthy legal proceedings. But the goodwill of the first lockdown is over. In terms of insurance, the companies are left with no protection against a second economic standstill.

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“The insurance companies have completely stopped new business with the previous epidemic solutions”, says insurance broker Simon Holtz from risk management consultant Kessler to “NZZaS”. Some have recently excluded all viruses except for the norovirus – a diarrheal pathogen – from their services. Others would only limit the coverage to food law orders or damage to goods.

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Only if everyone pulls together

Broker Hotz believes that there is now a great need for new epidemic insurance, and customers would be willing to pay the corresponding premiums.

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If the bankers were the bogeymen of the financial crisis, the insurers now seem to overtake them in the corona crisis. The reputation of the industry is tarnished, as insurers usually have a suitable policy for almost every problem. Except for the most pressing problem of the present: the corona pandemic.

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But that should change. For future pandemics, the insurance industry brings a so-called pool solution into play. The idea: private and public insurance as well as reinsurance join forces. With the support of the federal government, protection against disasters in the health sector should be possible. The first proposals for a pandemic pool should be on the table in September. (koh)

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