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Insurance companies are afraid, said Bob Hunter, director of insurance at the Consumer Federation of America and a former Texas insurance commissioner. “This is classic insurance reaction. They did it after AIDS and SARS,” he said.
Individual and group life insurers can’t add riders to their policies to refuse to pay out benefits if someone dies of a specified illness like Covid-19, under the Insurance Compact’s standards.
But Hunter said he’s not aware of any state regulations that stop insurance companies from underwriting against a disease like Covid-19. Some survivors have already been denied a policy because they tested positive.
Bloomberg - Are you a robot?
Individual and group life insurers can’t add riders to their policies to refuse to pay out benefits if someone dies of a specified illness like Covid-19, under the Insurance Compact’s standards.
But Hunter said he’s not aware of any state regulations that stop insurance companies from underwriting against a disease like Covid-19. Some survivors have already been denied a policy because they tested positive.
Bloomberg - Are you a robot?