Keep up to date with the latest actuarial news in our weekly round-up…
The conronavirus pandemic could cost the global economy between $5.8tn and $8.8tn, according to the Asian Development Bank (ADB).
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.
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.
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.
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.