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.
While availability and terms and conditions of Professional Indemnity (PI) insurance protection as well as Construction All Risks (CAR) cover are affected by greater frequency and severity of claims, there is still significant capacity in the London construction market if managed and brokered correctly. Even pandemic cover may be available soon for construction projects.
A recent Supreme Court decision regarding supermarket chain Morrisons has attracted much attention as it clarifies the conditions under which a company is not responsible for an employee that goes rogue.
Governments are issuing guarantees and are taking over risk from trade credit insurers to help revive the economy after COVID-19 disrupted supply chains and increased the risk of bankruptcies.