COVID-19 and Property-Liability Insurance in India: Impact and Prospect

Ghosh, Amlan and Mukherjee, Abhijit (2020): COVID-19 and Property-Liability Insurance in India: Impact and Prospect.

Abstract

An unprecedented crisis in the form of COVID-19 has posed a significant problem to both the lives and livelihood of the people around the world. Economic activities of India are also affected by this pandemic with phase-wise lockdowns, implementation of social distancing measures, global economic downturn, and supply chain disruptions. With reduced economic activities and movement, the property-liability insurance (PLI) sector has also been impacted. In this paper, we assess the impact on the PLI sector in India, analyse the policies and steps taken by Government & regulatory authorities, and provided a future outlook depicting the way forward. The study will help policymakers and insurers to take a holistic view of the impact of the COVID-19 situation and plan for the future accordingly.

• Item Type: MPRA Paper
• Language: English
• Keywords: Property-Liability Insurance, Covid-19, India
• Subjects: G - Financial Economics > G2 - Financial Institutions and Services > G22 - Insurance ; Insurance Companies ; Actuarial Studies; G - Financial Economics > G2 - Financial Institutions and Services > G28 - Government Policy and Regulation; I - Health, Education, and Welfare > I1 - Health > I13 - Health Insurance, Public and Private; O - Economic Development, Innovation, Technological Change, and Growth > O5 - Economywide Country Studies > O53 - Asia including Middle East

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