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The Lloyd's of London building in London. (Photo: Jason Alden/Bloomberg) The Lloyd’s of London building in London. (Photo: Jason Alden/Bloomberg)

(Bloomberg) — Lloyd’s of London is calling for the creation of new insurance policies and government-backed funds to protect against future pandemics and global threats.

The world’s largest insurance market proposed a new type of policy that would cover revenue lost during a lockdown when businesses are ordered to close, according to a new company report. AXA SA and Hiscox Ltd. are among insurers facing mounting COVID-19-related claims for lost income.

 

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