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Ebola Crisis Spurs New Insurance Products

In the face of the Ebola crisis, new insurance product offerings are being brought to market...
October 22, 2014

In the face of the Ebola crisis, new insurance product offerings are being brought to market. Miller Insurance Services, an independent specialist insurance broker, and William Gallagher Associates, a U.S. retail insurance broker, have announced Pandemic Disease Business Interruption Insurance, provided by the Ark Syndicate at Lloyd's. The insurance is designed to cover loss of income arising directly out of shutdowns of healthcare facilities as well as diminished revenues in the aftermath of a quarantine.

NAS Insurance Services, a California provider of specialty insurance coverages, in conjunction with Prospect Insurance Brokers Ltd and Ark Specialty Programs of Lloyd's of London, said it will offer Regulatory Business Interruption Ebola Coverage against business losses suffered because of a government-ordered closure stemming from the Ebola virus.

"The individual treatment costs of Ebola will normally be met by the medical and/or travel insurance of the individual or his/her company, which is a market well served," said Prospect Director Jamie Webb, "But what is new is the threat that a business can be shut down by regulatory authorities due to the presence of communicable disease on the premises."

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