PARLIAMENTARY WRITTEN QUESTION
Insurance: Coronavirus (17 December 2020)

The Government is in continual dialogue with the insurance sector on its response to this unprecedented situation. We are working closely with the insurers, the trade bodies and regulators to understand what more the industry can do to help individuals and businesses in time of need, and how the insurance market delivers the support firms need as the economy reopens.

In response to the COVID-19 crisis, some insurance companies have chosen to pause the sale of some insurance policies, or will not include cover for COVID-19 related claims in any new or renewed policies. Insurers take commercial decisions regarding the products they offer and risks they cover based on their view of the likelihood of a risk occurring, and have cited the likelihood of COVID-19 risk crystallising as a challenge to insure.

The Government recognises that businesses who do not have appropriate insurance cover will require support from elsewhere and encourages businesses to seek assistance through the wider support package if they are in financial difficulty.