The World Health Organization confirmed on March 12 that the COVID-19 coronavirus outbreak would be classified as a pandemic, with the Australian government announcing a stimulus package to help stave off economic collapse in the country. In light of this, the Insurance Council of Australia (ICA) also announced that the ongoing outbreak was an “insurance catastrophe.”
While information is minimal, due to the fact the outbreak in Australia is ongoing and in its early stages, the ICA provided a classification for the virus and some important information.
You've reached your limit - Register for free now for unlimited access
To read the full story, and get unlimited access to Insurance Business website content, just register for free now. GET STARTED HERE
Already a website member? Log in below.