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ARTICLE · 30 MARCH 2020

COVID-19 Update - MFSA Issues Information Regarding Coverage Under Insurance For Consumers

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The MFSA has provided an informational update as a result of the COVID-19 which may affect consumers of insurance products.

MaltaInsurance

The MFSA has provided an informational update as a result of the COVID-19 which may affect consumers of insurance products.

The MFSA has noted that any changes which may have been made to the terms and conditions relating to an insurance policy issued before the outbreak of COVID-19, cannot apply retrospectively or mid-term during the policy period. However, it has been noted that new policies which have been issued may include amendments and/or exclusions which take into consideration the risks arising due to COVID-19. The MFSA has also stated that policyholders may discover changes in their circumstances because of the outbreak of COVID-19, which may affect current insurance policies such as home contents or a travel policy. In view of this, it has been suggested that policyholders should seek to contact their respective insurance company to discuss these changes.

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