Viewpoint: The Coronavirus’ Impact on Property Losses and Subrogation Claims
Will COVID-19 impact subrogation? Like so much else, the answer is “yes.”
The global effect of COVID-19 is unlike any event in human history. More than 4 billion people—over half of the world’s population—are currently under confinement measures. In just a few short weeks, COVID-19 has impacted nearly every aspect of life across the globe.
There is little doubt stay-at-home orders will remain in effect into May and some predictions have the lockdown lasting well into the summer. Whatever the timeframe, the ripple effects will last even longer. The impacts will be far-reaching and there will be effects on losses, subrogation claims, and litigation. It is foreseeable that there will be influences on the nature, frequency, and extent of property losses.
Read the full article by Michael DeBona here.