P&C Insurance: The Conundrum of Business Interruption Coverage during the Coronavirus Pandemic
DBRS Limited (DBRS Morningstar) released a commentary entitled “P&C Insurance: The Conundrum of Business Interruption Coverage during the Coronavirus Pandemic†that discusses the impact of retroactively forcing property and casualty (P&C) insurance companies to assume business interruption losses in contracts that originally excluded pandemics as a covered peril.
Fairfax Financial Holdings is a financial services holding company. Through its subsidiaries, Co. is engaged in property and casualty insurance and reinsurance and investment management. Co.'s insurance and reinsurance companies operate on a decentralized basis, with autonomous management teams applying a focused underwriting strategy to their markets. Co.'s investments are centrally managed for all the Co.'s group of companies by Hamblin Watsa Investment Counsel Ltd. Co. operates four main operating segments: Insurance, Reinsurance, Reinsurance and Insurance - Other, and Runoff.
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