8: Biggest Epidemic Insurance Payout – SARS OutBreak – $1 B
By far, the largest epidemic payout in the history of insurance was the SARS outbreak in 2003. The outbreak started in 2003 in China but it soon spread to some 37 countries across the world, within a few weeks. Around 8000 cases were reported for being infected by the severe acute respiratory syndrome(SARS) and 774 were the numbers for fatalities.
Businesses were badly affected, airlines were grounded and hotels were empty. It was a nightmare for the insurance companies that were forced to pay out close to $ 1 Billion in insurance claims to small business, airlines and big corporates.