According to catastrophe risk modeling firm AIR Worldwide, as of March 17, 147 countries, areas, or territories reported confirmed cases of COVID-19. The country most affected by the outbreak has been China, which has reported 82,007 cases and 3,338 deaths; however, China has also reported that the number of new cases there has continued to… Continue reading AIR Worldwide Estimates by End of March Coronavirus Deaths Globally Could Reach 10K-30K
Tag: Supply Chain disruption
U.S. Unions, Groups Urge Government Steps to Protect Workers from Coronavirus
Nearly 30 unions and advocacy groups on Friday urged the U.S. employee safety regulator to impose a suite of emergency measures to safeguard public-facing workers against the new coronavirus. In a letter, the groups asked the Operational Safety and Health Administration to build a list of workers in need of protection, provide training to help… Continue reading U.S. Unions, Groups Urge Government Steps to Protect Workers from Coronavirus
Spotty Sick Leave Policies Limit Options for Avoiding Virus
A barber in Beijing is supporting his wife and child by charging food and other expenses to a credit card while he waits for his employer’s shop to reopen. A waiter at a barbecue restaurant in Kansas City, Missouri, washes his hands more often and hopes for the best. A parcel delivery driver in Britain… Continue reading Spotty Sick Leave Policies Limit Options for Avoiding Virus
North American Companies Bracing for Negative Business Impact due to Coronavirus Epidemic
Despite rising concern of the effect that COVID-19 (coronavirus) will have on their businesses, most U.S. companies are taking a wait-and-see approach when it comes to adjusting their executive pay and sales compensation programs, according to a survey by Willis Towers Watson, a leading global advisory, broking and solutions company. “Companies are increasingly expecting that… Continue reading North American Companies Bracing for Negative Business Impact due to Coronavirus Epidemic
Coronavirus Will Cost Businesses Billions: Will Insurance Help?
Two years ago Munich Re, the reinsurance giant, tried to start underwriting a new kind of insurance — one that would make a company whole if its business tanked in an epidemic. For months, there were no takers. Then came the coronavirus outbreak. “Now, quite honestly, we probably have a six-month backlog in getting quotes… Continue reading Coronavirus Will Cost Businesses Billions: Will Insurance Help?
Mask Manufacturers Seek Liability Protections
Demand for N95 face masks — the kind that keeps out at least 95% of particles — is surging amid more U.S. coronavirus cases. But some mask manufacturers worry they could be held liable if someone gets sick anyway. The companies have been seeking for years to get Congress to pass legislation giving them immunity… Continue reading Mask Manufacturers Seek Liability Protections
Virus Threatens to Unleash Lawsuits Against Global Business
The coronavirus has upended markets, disrupted supply chains and forced quarantines. It’s all fertile ground for lawsuits. Hospitals, restaurants, day care centers, nursing homes and hotels may face claims that they didn’t take adequate steps to protect people. Shareholders can sue if companies fail to act effectively in response to the epidemic. Businesses are scrambling… Continue reading Virus Threatens to Unleash Lawsuits Against Global Business
Market Panic Over Coronavirus Isn’t Warranted, Says Allianz CEO
Markets are overreacting to the threat of the rapidly spreading coronavirus and the global economy will only see a short-term impact, said the head of Allianz SE, Europe’s biggest insurer. Chief Executive Officer Oliver Baete said the firm was more concerned about the safety of its clients than any impact to its business, in an… Continue reading Market Panic Over Coronavirus Isn’t Warranted, Says Allianz CEO
Coronavirus Tests Europe’s Open Borders as Italy Death Toll Rises
Italy reported a sixth death from the coronavirus Monday, as authorities imposed quarantines and other restrictions in the country’s economic heartland to fight what is now the world’s third-biggest national outbreak after China and South Korea. Italian authorities on Monday shut down schools, universities and museums across the country’s north, and banned public and private… Continue reading Coronavirus Tests Europe’s Open Borders as Italy Death Toll Rises
Insuring Against the Business Risks of Coronavirus
The coronavirus epidemic that has afflicted Wuhan, China is having economic ripple effects for the global economy, slowing orders and disrupting supply chains. News reports indicate that the impacts are already being felt in industries as diverse as electronics, auto manufacturing, airlines and passenger cruises. Travel, transportation, hospitality, health care and event planning are only… Continue reading Insuring Against the Business Risks of Coronavirus