Important insurance principle:-
- Documentation states that epidemics are not covered
- Some other documents mention in the table of exceptions that it is forbidden to compensate for the expenses of treating a disease guaranteed by the state or any other parties, and in the event that this is not mentioned, the insurance company is obliged to provide coverage.
- With an explanation that epidemic diseases are usually excluded from coverage in insurance policies
Three Egyptian insurance companies confirm their commitment to cover the Corona virus in cases of illness and death This is done through the medical insurance policy, and the life insurance policy out of its keenness that it is necessary to provide full protection to its customersv The Egyptian Takaful Insurance Company – Hayat (GIG), that his company to cover the Corona virus in the event of death stems from its keenness on customers on an ongoing basis and with great care.v Allianz Life Insurance, that the company went to cover this virus insurance, adding, “Since this virus has been classified as an epidemic, then it will have a drug in successive periods.”v AXA Life Insurance, also covers the Corona virus from a medical point of view Companies providing health insurance services in the UAE have confirmed their commitment to providing the necessary medical support According to the terms of the insurance policies issued to customers, unless the exceptions of some policies stipulate otherwise.As it was published on the Emirati newspaper Al-Ru’ya website, it stated that these exceptions are officially considered the virus an epidemic, which is currently excluded, as some insurance documents expressly state that the document does not compensate for epidemic treatments sponsored by the state or any other party.Insurance companies in the United States of America:- Aon PLC Group (USA) Most of the losses related to the supply chain of American companies caused by the Corona virus will often not be covered by business interruption documents because there must be material damage. However, there are some documents that provide very limited coverage but the virus must be in the facility Insured, not abroad.Ty Childress (Director of Insurance Refund Practices at Jones Day in Los Angeles) said emergency business interruption coverage may “depend on how the document is understood.” Judicial opinion :- Some jurisdictions have held that any accident that renders the facility unfit to operate, unfit for use or polluted in one way or another are sufficient reasons to be considered a material loss and therefore are coveredAnd in light of providing solutions to business interruptions caused by the Corona virus, an insurance company in the state of New Jersey has initiated proposals to provide limited coverage for business interruptions due to some measures taken by civil authorities to stop some businesses to avoid infection with the Corona virus, or to limit its spread.