Insurers in Taiwan Pay the Price for Misjudging Covid Risks

TAIPEI—Insurers in Taiwan thought they hit the jackpot final yr by promoting thousands and thousands of Covid-19 insurance policies that promised payouts to individuals who contracted the virus.

Now, as the extremely transmissible Omicron variant of the coronavirus sweeps throughout the self-ruled island, the insurers are dealing with a flood of claims, mounting losses and a wave of anger from the public.