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Worst Covid Outbreak Leaves Taiwan Insurers Bracing for Over $1 Billion in Claims

  • Regulator has ordered companies to honor legitimate claims
  • Covid-policy claims have outstripped insurers’ revenue
A medical staff checks the temperature of a resident at a Covid-19 vaccination center in New Taipei City, on May 23.

A medical staff checks the temperature of a resident at a Covid-19 vaccination center in New Taipei City, on May 23.

Photographer: I-Hwa Cheng/Bloomberg
Updated on

Taiwan’s worst Covid outbreak has left the island’s insurers bracing for more than $1 billion in claims that the financial regulator is urging them to honor. 

The head of the Financial Supervisory Commission, Huang Tien-mu, has ordered insurers to pay out on valid Covid-related insurance policies after they faced criticism from lawmakers for dismissing claims, canceling policies and delaying payouts.