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

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