Research and analysis

The impact of COVID-19 on public sector insurance

The Government Actuary’s Department (GAD) devised a survey to investigate the impact of COVID-19 on the public sector’s insurance risks.

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Many public sector organisations, including local government, rely on commercial insurance to manage their risks.

COVID-19 has changed the nature of these risks and the insurance market is also changing. We asked about these changes in our survey.

Our aim was to help public sector authorities make sense of these changes by sharing their combined experiences and insights.

We found that the immediate impact varied considerably depending on the type of authority and mix of risks.

The outlook was gloomier, with the overwhelming majority of respondents expecting their costs to increase in the medium term.

Our report also sets out the steps that authorities are taking to manage the costs.

Published 28 September 2020