Insurers discuss growing need for policy to claim Covid-19 losses

Insurers are discussing the growing need for a policy that covers business interruption losses due to a pandemic.

Currently, such a loss is not covered by insurance companies as it does not involve damage to property. However, given the extent of disruption the Covid-19 has caused to businesses, insurers have had discussions on the feasibility of such a product and on the broad contours on how such a product can be developed. 

The discussions are at an initial stage and no timeline has been fixed on when such a product will come out.  Insurers are suggesting that there is a need to