The aviation sector carries the biggest risk of corporate default as a result of the coronavirus pandemic, according to a survey of insurers published by broker Gallagher on Tuesday.
Only 29% of credit and political risk insurers had seen claims directly related to the virus so far, the survey of underwriters, conducted in June and July, showed.Pandemic-related credit insurance claims are, however, likely to rise later this year or early next year, as businesses struggle to stave off default, said Matthew Solley, managing director of structured credit and political risks at Gallagher.
Aviation, oil and energy, and tourism were the three sectors in their portfolios that concerned insurers the most. Virgin Australia, Air Mauritius and Colombia-based Avianca are among airlines to have ceased operations in the past few months, with planes grounded by lockdowns around the world.In the broader political risk insurance market, which can cover issues ranging from expropriation to war, Argentina was seen as the biggest concern.
The survey of 76 underwriters from 46 firms in Lloyd’s of London and the broader London commercial insurance market was carried out between June 24 and July 9.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Homicide Spike Hits Most Large U.S. CitiesA Wall Street Journal analysis shows double-digit increases in 36 of the 50 biggest cities amid the pandemic, affecting Democratic and Republican administrations alike.
Weiterlesen »
7-Eleven owner is buying Marathon Petroleum's Speedway gas stations for $21 billionThe Japanese owner of 7-Eleven is buying the Speedway chain of gas stations in one of the biggest acquisitions in the world since the coronavirus pandemic hit this year.
Weiterlesen »
US teachers protest re-opening of schools amid virus pandemicEducators are protesting over schools resuming classes, citing ongoing risks related to coronavirus pandemic as policymakers struggled to balance public health with economic interests.
Weiterlesen »
Coronavirus updates: WHO points to Vietnam as example of how to combat pandemicLATEST: The White House is now requiring random testing—a screening procedure that had been voluntary—of those in the President's Executive Office staff, a White House official says.
Weiterlesen »
Odell Beckham Jr. Says the 2020 NFL Season Should Be CanceledCleveland Browns star Odell Beckham Jr. thinks the 2020 NFL season should be cancelled because of coronavirus.
Weiterlesen »
Coronavirus updates: New cases are down but death rate is up, says FEMAThousands in Berlin protested against Germany's measures to combat the coronavirus pandemic, claiming they violate the public's rights and freedoms. The demonstrations followed a call from a political outsider running for mayor in Stuttgart.
Weiterlesen »