Sri Lanka, Aug. 12 -- Though the immediate healthcare costs of the COVID-19 crisis were borne by the government in a difficult economic environment there were considerable expenses incurred due to business closure.

These expenses put much strain on business entities and as such the need for the provision of business interruption insurance was discussed at a webinar organized by the Ceylon Chamber of Commerce and Fairfirst Insurance on August 11.

Chief Technical Officer Ceylinco Insurance Dr. Jagath Alwis said that business continuity insurance was commonplace in more developed markets.

Through such insurance schemes, companies can pay a proportionately small premium and protect their income streams during instances when their normal bu...