Changes in alert levels “uninsurable”

An Insurance Business Magazine article.

Cover-More recently released a range of new COVID-19 benefits for policyholders travelling in New Zealand and Australia, though it says the consequences of major government decisions such as closed borders, lockdowns or changes in alert levels will likely remain uninsurable.

Eftim Stojanov, general manager – underwriting and product NZ, at Cover-More, says the new benefits released by Cover-More are “extensive,” and will cover things like quarantine, medical expenses and cancelled activities. However, he says insurers will only be willing to cover risk on a personal level, and are unlikely to absorb the consequences of wider government decisions.

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