Author Archives: Robert Muir-Wood and Tim Edwards

Robert Muir-Wood and Tim Edwards

About Robert Muir-Wood and Tim Edwards

Robert Muir-Wood is the Chief Risk Officer for RMS.

Tim Edwards is the Regional Director - Head of Catastrophe Analytics Globals at Willis Re.

The Insurance Implications of the Coronavirus “Catastrophe”

Robert Muir-Wood, Chief Risk Officer, RMS

Tim Edwards, Regional Director – Head of Catastrophe Analytics Globals, Willis Re

This article was originally published in Insurance Day

The economic impact of COVID-19 (coronavirus) is clearly going to be significant, with global growth in gross domestic product (GDP) for 2020 now expected to be only half that of the three percent originally anticipated, at best. Relative to the US$86.5 trillion global GDP for 2019, that equates to around US$1.3 trillion dollars of lost economic activity. This is twenty-five times the economic loss estimated from the SARS outbreak in 2002-3.

The losses from COVID-19 will emerge from many facets of the economy.   

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