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