Keep up to date with the latest actuarial news in our weekly round-up…

 

Coronavirus ‘could cost global economy $8.8tn’ says ADB

The conronavirus pandemic could cost the global economy between $5.8tn and $8.8tn, according to the Asian Development Bank (ADB).

Coronavirus payouts to top $100B in biggest ever non-life insurance event: Lloyd’s CEO

Lloyd’s of London estimates that the industry will pay out $100 billion – yet another “unprecedented” number during this crisis. Lloyd’s itself has been on the hook for $1.3billion.

Govt told to scrap pensions triple lock to reduce virus debt

The pensions triple lock could be scrapped in the near future as the government looks to recoup the hundreds of billions of pounds it has spent on Covid-19 support.

Lloyd’s considers Recover Re “after the event” pandemic coverage vehicle

The specialist Lloyd’s of London insurance and reinsurance marketplace is considering the creation of a new insurance vehicle called ‘Recover Re’, designed to provide “after the event” cover for pandemic related business recovery, including the ongoing Covid-19 crisis.

Covid-19: FCA confirms measure to help financially strained insurance customers

The FCA has confirmed a series of temporary measures to help insurance and premium finance customers who may be in financial difficulty because of coronavirus.

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