Taiwan insurance companies suffer heavy losses on COVID and vaccine policy payouts

Some of Taiwan’s largest insurance companies have applied for capital reserve funding increases and short term loans to cover losses to the tune of more than NT$80 billion as Covid-19 and COVID vaccine insurance claims continue to pour in, the Financial Supervisory Commission (FSC) said yesterday, September 6. The FSC Insurance Bureau reported that from the beginning of the year to September 5, there had been more than 1.7 million claims settled on COVID-19 insurance and more than 386,000 claims