UK’s watchdog Financial Conduct Authority (FCA) is seeking a court declaration to resolve contractual uncertainty in business interruption (BI) insurance policy disputes related to the Covid-19 pandemic.
As someone who has a spouse donning personal protective equipment (PPE) and working in an NHS ‘hot hub’ every day, testing has been a constant topic of discussion at home for the last ten weeks. Like me, I am sure you have been following the UK government’s attempts for 100,000, now 200,000 tests a day and have been buoyed by recent news indicating antibody tests are arriving and even vaccines might be just around the corner.
Reinsurance has been a growing business in Brazil since the privatisation of the sector started in 2007 but as the Covid-19 pandemic takes its toll on the country’s people and economy the reinsurance sector is not spared.
The pandemic has caused an imbalance between demand and supply globally which disrupted the cargo sector, creating new risks that need to be addressed.
The current pandemic will change the UK workplace in ways no one would have predicted a few months ago. Several weeks of lockdown are likely to have lasting effects on work processes as well as on employees, requiring a review of the corporate benefits strategy to adapt the offering to the altered needs of employees post pandemic.
Working from home was widely introduced as a rapid response to contain the Covid-19 outbreak. It was intended to be a temporary measure, but since it seems to have become the new normal for many in the foreseeable future, employers may need to step up their efforts to comply with their duty of care towards staff.
The Covid-19 lockdown has tested the robustness of supply chains when suppliers failed to deliver due to the shutdown of operations or logistical issues. There may be valuable lessons to learn from this experience, particularly because disruption is likely to persist for some time. To be prepared for new issues when businesses restart production, companies should reassess their supply chain’s resilience and make adjustments where appropriate.
As governments begin to relax Covid-19 lockdown rules, companies are working on plans to return operations back to normal while ensuring the safety of employees and clients.