{ "media_type": "text", "post_content": "Do hotels and airlines have an option to buy insurance for situations like this where travel is massively curtailed?", "post_id": "5e985fe5508e6a001ae05aa0", "reply_count": 11, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Do hotels and airlines have an option to buy insurance for situations like this where travel is massively curtailed?

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Yes, but it would be carried by a market like Lloyds of London that deals with strange and rare coverage! Something like a global pandemic would often invalidate other contracts like “business interruption” or “supply chain insurance” under a clause that states “Acts of God” (big crazy stuff) is not covered.

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Yep spread across multiple syndicates, some that have unlimited liability grandfathered in, so they can insure as much liability as they want. Then the risks would be spread out via reinsurers, probably too. Aka insurance for the re-insurers.

No. Given scope of losses I would think that is an obvious answer. There’s no insurance company in the world able to absorb the kinds of losses airlines and hotels are sustaining right now.

Idea: why don’t airlines merge with businesses that are countercyclical to them (grocery stores, etc) to them to smooth financial performance?

Haha, but they’re a good industry model for a reason.

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