What weighs most on the bill, especially in Europe, is the coverage of the shortfall of companies, says the head of the Zurich Insurance group, Mario Greco.
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Zurich Insurance Group chief Mario Greco estimates the pandemic is expected to cost the company approximately $ 750 million. What weighs most on the bill, especially in Europe, is the coverage of the shortfall of companies, he added in an interview published Monday in Blick.
Asked about the fact that certain companies are covered in the event of an epidemic but not a pandemic, Mr. Greco clarified that this question almost only concerns Switzerland because almost everywhere else the risks linked to viruses are not covered.
He adds that more than 90% of catering companies that have epidemic insurance with Zurich will be fully covered for the pandemic. The others will receive compensation through the insurance solidarity fund, he added.
On Friday, the private insurance ombudsman released an expert opinion which concluded that epidemic insurance must cover damage attributable to the coronavirus.
In a press release published the same day, Gastrosuisse, the umbrella organization for restaurants and hotels, indicated that certain insurance companies had already made offers to their policyholders and that it was awaiting “also an improvement from other insurers such as Zurich and a decision to supplement their low solidarity contribution with an appropriate additional payment ”.
Greco said the insurer wants to be flexible about paying premiums. “If necessary, we will give our customers a deadline,” he says. And to add: “In Switzerland, we generally grant a deferral of payment, also for the tenants of buildings belonging to Zurich. In addition, we are not sending out reminders or pursuing debt collection. “
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