Some interesting numbers this AM from Oliver Ralph and the team at the FT on the impact of COVID-19 on the insurance industry. 

Specifically, just over half of the costs are from claims payouts, while the other half relate to a loss in investment returns. 

To put these figures into context, they are almost on par with the 2005 hurricane losses. 

Key losses include: business interruption, trade credit and event cancellation.

How can the industry respond to this? 

At Lloyds of London, they have set aside £15m to look at future ways to deal with pandemics. In addition, Ed Gaze, Trevor Maynard and the team are launching a COVID-19 specific cohort for the Lloyds of London Labs.  More information on that here