AXA moots mass insurance scheme for loss of income during pandemic lockdown

The insurance cover can guarantee a regular pay-out for a specific time frame to these affected individuals

AXA Re is in talks with various state governments in India for an insurance product to cover loss of incomes during pandemic or epidemic leading to lockdowns. 

Few days back, Thomas Buberl, CEO of AXA, the French multinational insurance, in an interview with French newspaper Le Journal du Dimanche, had said an insurance scheme backed  by a pooling system involving government and private insurers could be looked at to counter pandemics.

In India, with a share of almost 90 per cent of people working in the informal economy, about 400 million workers in the informal economy are at risk of