Coronavirus travel insurance markets in everything

Moral hazard — forget about it!:

In the Mediterranean island nation of Cyprus, government leaders have pledged to cover all costs for any traveler who tests positive for the coronavirus while on vacation, according to the Associated Press. In a letter sent out to governments, airlines and tour operators, Cypriot officials said they would cover “lodging, food, drink and medication for covid-19 patients and their families” while on the island.

Tourism accounts for 13 percent of Cyprus’s economy, according to the AP, and with one of the lowest coronavirus ratios per capita in Europe, tourism ministers plan to restart international air travel on June 9.

Here is the full story, which includes other examples.