Fear the Drop in Premium, Not the Cost of COVID Claims, Paduda and Priven Say

The sky is not falling as a result of COVID-19 claims, which are turning out to be less expensive than once feared, and insurers should be more concerned about the drop in written premium for this year and next. That's according to an actuary and an industry consultant who have analyzed some of the data regarding coronavirus claims and the economic slowdown. Mark Priven, vice president at Bickmore Actuarial, and Joe Paduda, principal of Health Strategy Associates, hosted a webinar Thursday that took a somewhat contrarian stand on recent warnings that COVID claims will cost insure...