U.S. insurers are covering employees and employers facing exposure to COVID-19 while easing the financial burdens of its customers and communities during an extraordinary time in the nation’s history, according to the Insurance Information Institute (Triple-I).
“These are challenging times for insurance customers, and the industry is doing all that it can to be a financial first responder. Workers compensation insurers are providing coverage to health care workers and first responders in multiple states. Business insurers are protecting financially the restaurants who now offer take-out and delivery services,” said Sean Kevelighan, CEO, Triple-I. “Beyond that, insurers are extending coverage and payment relief to customers who are struggling financially.”
The Triple-I released a Fact Sheet, Insurers Are Engaged In the COVID-19 Crisis. It outlines how the industry’s financial stability allows insurers to keep the promises made to its policyholders in the event of a tornado, hurricane, or wildfire. The Fact Sheet also notes how insurers are contributing to COVID-19 related charities, such as food banks and medical supplies.