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Coronavirus Will Drive Up Claims for Insurers, Rating Firm Says

March 6, 2020, 8:52 PM

Health insurers are likely to experience an increase in claims related to the coronavirus, the insurance credit rating agency A.M. Best Inc. said Friday.

The claims may be high to cover sicker patients, the Oldwick, N.J., company said. In some cases state health agencies may cover the cost of testing, but insurers could still be liable for provider visits to get the test, it said.

While insurers will face higher claims due to the pandemic, several years of strong earnings should allow health insurers to absorb the impact, the insurance ratings company said.

A.M. Best’s comments come as testing ...