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When $2 Trillion Falls Short, Next 2020 May Be Uninsurable

  • Covid spurs insurers, governments to plan for next calamity
  • ‘Pandemic is not a risk you can cover,’ Swiss Re’s CEO says
Insurance markets for travel and business interruption have been roiled by the virus.
Photographer: Christof Stache/AFP/Getty Images
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There aren’t many contexts where $2 trillion seems like a paltry sum. Then a pandemic comes along.

The economic fallout from Covid-19 has left insurers issuing existential warnings and businesses discovering they weren’t covered. It’s resulted in courts packed with lawsuits and governments scrambling to head off more pain.