Global reinsurance giant Hannover Re has withdrawn its profit guidance for 2020 in light of the ongoing COVID-19 coronavirus pandemic and related uncertainty surrounding claims and the capital market landscape. The German reinsurer states that its first-quarter 2020 results were not significantly impacted by the global spread of the coronavirus as they also benefitted from… Continue reading Hannover Re Withdraws 2020 Profit Guidance on COVID-19 Pandemic
Tag: COVID-19 pandemic
Aon Survey: Companies Accelerate Workforce, Compensation and Benefits Changes in Response to COVID-19
A new pulse survey from Aon plc, a leading global professional services firm providing a broad range of risk, retirement and health solutions, shows how companies around the world, and specifically in North America, are accelerating changes to their total rewards programs and workforce strategies in response to the deepening humanitarian and economic impacts of… Continue reading Aon Survey: Companies Accelerate Workforce, Compensation and Benefits Changes in Response to COVID-19
Corporate America Seeks Legal Protection for When Coronavirus Lockdowns Lift
Major U.S. business lobbying groups are asking Congress to pass measures that would protect companies large and small from coronavirus-related lawsuits when states start to lift pandemic restrictions and businesses begin to reopen. Their concerns have the ears of congressional Republicans, though it is far from clear if the idea has the Democratic support it… Continue reading Corporate America Seeks Legal Protection for When Coronavirus Lockdowns Lift
DOL Announces OSHA Interim Enforcement Response Plan to Protect Workers During the Coronavirus Pandemic
The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) announced an interim enforcement response plan for the coronavirus pandemic. The response plan provides instructions and guidance to OSHA Area Offices and compliance safety and health officers (CSHOs) for handling coronavirus-related complaints, referrals, and severe illness reports. During the coronavirus outbreak, OSHA Area Offices… Continue reading DOL Announces OSHA Interim Enforcement Response Plan to Protect Workers During the Coronavirus Pandemic
North America Meat Plant Workers Fall Ill, Walk Off Jobs
At a Wayne Farms chicken processing plant in Alabama, workers recently had to pay the company 10 cents a day to buy masks to protect themselves from the new coronavirus, according to a meat inspector. In Colorado, nearly a third of the workers at a JBS USA beef plant stayed home amid safety concerns for… Continue reading North America Meat Plant Workers Fall Ill, Walk Off Jobs
Employers Broadening Efforts to Protect Workers’ Health and Wellbeing Amid COVID-19: WTW
Employers are broadening their efforts to help their workers cope with COVID-19 while at the same time preparing for an eventual return to a stable workplace, according to Willis Towers Watson’s latest survey of employers’ responses to the pandemic. Willis Towers Watson is a leading global advisory, broking and solutions company. Employers reported a dramatic… Continue reading Employers Broadening Efforts to Protect Workers’ Health and Wellbeing Amid COVID-19: WTW
Delayed Olympics to Cost Between $2B-$6B
IOC President Thomas Bach says the Olympic body will face “several hundred million dollars” of added costs because of the postponement of the Tokyo Games. Bach was speaking in an interview with a German newspaper. Estimates in Japan place the overall cost of the postponement at between $2 billion-$6 billion. All of those costs will… Continue reading Delayed Olympics to Cost Between $2B-$6B
Best’s Commentary: COVID-19 Stimulus Package to Benefit U.S. Insurers
AM Best expects the recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide U.S. insurance companies tax relief in the event of operating losses due to the COVID-19 pandemic outbreak. A new Best’s Commentary, “COVID-19 Stimulus Package to Benefit Insurers,” notes that the $2 trillion CARES Act provides a special rule applicable… Continue reading Best’s Commentary: COVID-19 Stimulus Package to Benefit U.S. Insurers
Automakers Push to Reopen Plants with Testing and Lots of Masks
Global automakers reeling from the COVID-19 pandemic are accelerating efforts to restart factories from Wuhan to Maranello to Michigan, using safety protocols developed for China and U.S. ventilator production operations launched in recent weeks. Certain safety measures differ from manufacturer to manufacturer. Italian sports car maker Ferrari NV said on Wednesday it would offer voluntary… Continue reading Automakers Push to Reopen Plants with Testing and Lots of Masks
AIR Worldwide Provides Sobering Estimates for COVID-19
Catastrophe risk modeling firm AIR Worldwide projects that the number of mild to moderately symptomatic cases globally on April 15 from the COVID-19 outbreak could range between 2,000,000 and 7,000,000, and the number of severe cases could range between 1,000,000 and 3,000,000, with deaths ranging between 70,000 and 230,000. As of this morning’s WHO report,… Continue reading AIR Worldwide Provides Sobering Estimates for COVID-19