Coronavirus (COVID-19)—Lloyd's announces insurance for distribution of vaccine

Coronavirus (COVID-19)—Lloyd's announces insurance for distribution of vaccine

Lloyd's of London (Lloyd's) and Parsyl Inc announced on 15 December 2020, the launch of Global Health Risk Facility (GHRF), a collaboration with 14 (re)insurers to make available billions of dollars of insurance coverage and risk mitigation services to help protect and support the global distribution of coronavirus (COVID-19) vaccines and other critical health commodities, including personal protective equipment and other medical products.

GHRF is anchored by Syndicate 1796. It is the first public/private partnership to address a health emergency in the history of Lloyd's. Underwriting will commence in January 2021. The risk mitigation services, the Risk Management Accelerator, will be separately funded and supported by risk consulting services provided by AXAXL. It will provide funding and services to eligible GHRF clients to access  better data and risk management solutions to strengthen the vaccine supply chain.

Source: Lloyd’s and Parsyl launch insurance initiative for distribution of COVID-19 vaccines

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