Reinsurer Swiss Re broke down the scenario in an economic note released on July 15.
A rating firm evaluated their response.
Second quarter had the highest Canadian quarterly growth rate on record for life insurance applications.
Investors put money in both mutual funds and ETFs.
The pandemic has raised Canadian credit and mortgage insurance buyers’ comfort level with online transactions.
This figure does not include the damage from the Lytton, BC forest fires, which will also be in the millions of dollars.
Swiss Re has identified a series of pitfalls for insurers as the post-COVID-19 recovery gets underway.