How the Insurance Companies are Handling their Business during the Lockdown
The governments from all across the globe have implemented the lockdown pro-actively to prevent the spread of the deadly virus, COVID-19. But this step will certainly have a great impact on the insurance companies. The business premium was supposed to grow this year as a result of which this year was supposed to be a great year for the insurance companies. But unfortunately, they are now in a situation, where matching the profit of the last year is also becoming quite a daunting task for them. Impact of COVID-19 on the insurance companies Most of the cities are under lockdown, and so quite the impact on the business of the insurance company is quite huge. Many flights have been cancelled and it is for this reason that the customers are not coming up with travel policies. The policies where the insurers need to do a medical test have slowed down. As of now, the NRIs are also not opting for any kind of insurance policy. It is thus quite clear that the lockdown has had a great i...