Carolyn Cohn, Muvija and Muvija M

LONDON, (Reuters) – Lloyd’s of London’s head of insurer Beazley stated Friday that there are increasing litigation risks associated with COVID-19 as countries emerge from the pandemic. Workers return to work and so do the workers.

Adrian Cox who was appointed Beazley’s chief executive officer in the Reuters Future of Insurance Europe conference stated that corporate risk is higher since the onset of the crisis.

There are many new risk factors out there. How can companies handle a mixed environment of work from home and at the office? Employers face new challenges when it comes to managing vaccinations or masks.

He said that he believes social inflation drivers will persist for some time.

According to insurance, social inflation refers to an increase in juries’ damages.

Due to the possibility of discrimination claims rising after lifting COVID-19 curbs, insurers have reduced the coverage they provide companies.

Cox told Reuters previously that corporates were dealing to questions about discrimination when they brought back employees into their offices.

On Friday, Beazley reported that premiums had risen due to an improvement in rates. Beazley’s executive and cyber risk businesses saw a 48% increase.

Cox, however, did not give further details and said that there was a portion of the portfolio in which rate hikes are tapering off.

For more on the Reuters Future of Insurance Europe conference please click here https://reutersevents.com/events/insuranceeurope