What is the potential of compensation funds for addressing COVID-related personal injury?

The COVID-19 pandemic continues to present new challenges at the frontiers of social risk. Its significant societal impact has prompted the consideration of alternative frameworks like compensation funds to better allocate the risks and impacts of COVID-related injury. Although there has been discus...

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Bibliographic Details
Published in:Geneva papers on risk and insurance. Issues and practice 2023-07, Vol.48 (3), p.608-629
Main Authors: Knetsch, Jonas, Watts, Kim
Format: Article
Language:English
Subjects:
Compensation
COVID-19 vaccines
Economics and Finance
Finance
Health care
Infections
Injuries
Insurance
Jurisdiction
Liability insurance
Pandemics
Risk Management
Severe acute respiratory syndrome coronavirus 2
Torts
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Summary:The COVID-19 pandemic continues to present new challenges at the frontiers of social risk. Its significant societal impact has prompted the consideration of alternative frameworks like compensation funds to better allocate the risks and impacts of COVID-related injury. Although there has been discussion about the potential of alternative liability structures for vaccine-related injury, there has been less analysis of the right way to compensate other types of injury, such as long-term illness, disability and death, associated with the SARS-CoV-2 virus. In France, a universal compensation fund for COVID-19-related injuries, designed similarly to asbestos-related schemes, was considered by the parliament. With an eye on scientific knowledge of the best practice in the development and operation of compensation frameworks, this paper analyses the design of such funds in Europe as applied to COVID-19 injury and considers the position of compensation funds in relation to tort law, private insurance and social security models.
ISSN:1018-5895
1468-0440
DOI:10.1057/s41288-023-00292-y