Keep up with what’s been happening this week in our latest actuary news round-up…

Coronavirus can be a threat to cyber security

Chief executive at Veridium, James Stockland has said that cyber security measures now may have to be implemented in weeks due to the coronavirus and the threat on cyber security on businesses with many employees now working from home.

Salvus Master Trust acquired by Smarterly

Smarterly has aquired Salvus Master Trust, which is the first authorised master trust to be acquired after the Pension Regulator’s master trust authorisation regime was introduced.

Allianz warns possible recession as countries lockdown

Allianz, a financial services company, has updated their global economic growth forecast from 2.4% to 0.8% for this year which sees business shutting down across the world.

Banks banned from requesting personal guarantees if loans aren’t paid

The Chancellor has banned banks from insisting on personal guarantees for loans. This comes after MPs and firms have criticised banks for asking for personal guarantees to issue government-backed emergency loans to business owners. This would mean banks can go after personal assets of the business owner if the loan isn’t paid back on time.

Businesses may lose insurance cover during coronavirus lockdown

Many businesses have been warned that they may lose their insurance during the pandemic lockdown if they don’t take certain measures as some insurance policies don’t offer full cover if a building has been unoccupied for 30 days.

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