| The new crown epidemic has brought immeasurable impact to various industries,especially the catering industry,and many caterers have experienced interruptions in their capital chains and are on the verge of closing down.In the face of this situation,insurance companies have taken an active role in launching a variety of epidemic prevention and control insurance.However,due to the actual design of the products did not give much consideration to the relationship between the premium and the actual loss and closure probability,the compensation amount is limited and the coverage period is short,which does not play a good role in protection.Therefore,this paper innovatively proposes to develop a new crown epidemic business interruption insurance product for the restaurant industry,which can provide a reference insurance solution for the subsequent large-scale and longer-lasting epidemics.This paper firstly discusses the contradiction between supply and demand of business interruption insurance for the new crown epidemic from both the supply side and the demand side.Then the product form of epidemic business interruption insurance was designed by combining international experience and existing insurance practices,taking the restaurant industry as an example.Then,the paper selects the restaurant industry in Shanghai as the research object,and uses the classical combustion analysis to estimate the pure rates of its epidemic business interruption insurance products,and calculates the premiums for the chain and non-chain restaurant industry in Shanghai by combining the insurance amount.After that,the paper explores the factors influencing the rate of epidemic business interruption insurance for the restaurant industry using multiple linear regression.The regression results show that the total number of restaurants in the region(10,000)has a significant negative effect on the probability of closure(%),and for every 10,000 increase in the total number of restaurants in the region,the probability of closure decreases by 0.009%.There is a significant positive effect of new confirmed cases per day on the probability of restaurant closure(%),and each increase of 1 new confirmed case per day increases the probability of restaurant closure by 0.029%.Based on the results of this regression analysis,the paper also predicts business interruption insurance rates for the restaurant industry in several other provinces and cities.Accordingly,for the risk of epidemic,insurance companies should actively participate in business interruption risk management,combine policy factors to develop targeted insurance products,and at the same time fully utilize new technologies to build an epidemic database to support the determination of product rates. |
