Attention on Covid -19 related deaths is waning, but the long-lasting effects of Covid-19 are not yet a thing of the past.
The Insurance Collaboration to Save Lives has been formed to try and figure out why there remain high levels of death and disease, even though Covid-19 seems like it is behind us. The rise in deaths “from all causes” is a big problem for the insurance industry – to the tune of trillions of dollars.
The pandemic is no longer considered a national emergency by the government, and many masking restrictions are being removed. However, John’s Hopkins University recently collected data showing that between mid-February and mid-March 2023, deaths from all causes were more than twice as high as the worst flu-season in the last decade.
On the other hand, Covid mortality is dropping. Despite this, a big concern for the insurance industry is that it is unclear how long it will take for general death rates to return to normal.
Read more from Aaron Smith in Life Annuity Specialist here.