Allianz gets OK to launch SARS-related policy in Japan.The serious economic impact from the outbreak of severe acute respiratory syndrome Severe Acute Respiratory Syndrome (SARS) Definition Severe acute respiratory syndrome (SARS) is the first emergent and highly transmissible viral disease to appear during the twenty-first century. in many Asia-Pacific countries during the first half of 2003 has prompted Allianz AG Holding's property/casualty unit in Japan to launch coverage designed to protect small and medium-sized businesses from disruptions linked specifically to any future outbreaks of SARS. Regulators cleared Allianz Fire & Marine Insurance Japan to market what the insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. calls "SARS Expense Insurance," a policy designed to protect employers with 100 or fewer workers against expenses incurred if an employee or visitor to the company is infected in·fect tr.v. in·fect·ed, in·fect·ing, in·fects 1. To contaminate with a pathogenic microorganism or agent. 2. To communicate a pathogen or disease to. 3. To invade and produce infection in. with SARS. Covered expenses could include disinfecting the business premises and exterminating pests; rental of temporary office premises and equipment for as long as one month; and costs associated with the need to quarantine quarantine (kwŏr`əntēn), isolation of persons, animals, places, and effects that carry or are suspected of harboring communicable disease. a worker. |
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