COVID-19 — an opportunity to rebuild trust in a time of crisis

By Timothy Chan ANZIIF (Aff) CIP and Ray Giblett — Norton Rose Fulbright | 9 Apr 2020
  • Claims
  • General Insurance
  • Insurance Broking
  • Risk Management
COVID19 claims response

It was 5:13 am on 18 April 1906 when a major earthquake had hit San Francisco [1].  

The earthquake caused widespread destruction to the city and left half its population homeless [2].  

Among the chaos, fear and devastation following a natural disaster of such scale, Lloyd’s underwriter Cuthbert Heath sent an instruction to his agent in San Francisco. The instruction read:

'Pay all of our policyholders in full, irrespective of the terms of their policies.' [3]

Heath and his Lloyd’s syndicate had insured at least 20 per cent of San Francisco. [4]


This article is worth 0.25 CIP Points

  • {{item.ShortMembershipLevel}}

    {{item.OnlineName}} / {{item.FriendlyCommentDateFormat}}

    • avatar{{reply.ShortMembershipLevel}}

      {{reply.OnlineName}} / {{reply.FriendlyCommentDateFormat}}

      {{reply.Comment}}

Report This Comment

Are you sure to report this comment?

Reported successfully.

This popup will be closed in 3 seconds.

Share this Page

Related Articles

  • COVID19 vulnerable people

    How to deal with vulnerable customers during COVID-19

    By Jessica Mudditt — ANZIIF writer | 8 Apr 2020

    Following the outbreak of COVID-19 in Australia, thousands of people have lost their jobs. Financial hardship is rife, social distancing is causing mental health issues with family violence organisations on alert. The GI Code of Practice comes into effect in 2021, but now is the time to have its measures in place.

  • COVID19 Income protection

    Life insurance impacts in a pandemic

    By Jenni Baxter, Executive General Manager Insurance, Andrea McDonnell, Senior Consultant and Caroline Chikomba, Consultant — Rice Warner | 8 Apr 2020

    COVID-19 has raised many questions for life insurance, whether it will cover claims on existing policies, and what it means for being able to access new cover. Insurers are developing their approaches and policies in an environment where there is no data or experience to inform us of what will unfold.