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

Insurers must support mental health issues during Covid-19 pandemic

An Insurance Analyst at GlobalData has said that insurers need to consider the ‘fluctuating risk environment created by the pandemic; especially as mental health is not typically covered in standard policies’. This was said after a poll showed that 27% of respondents want to go back to work full time; whilst 46% want a mix of home and office working.

Hurricane Laura causes billions in damages

Risk modelling firms have estimated that the total losses caused by Hurricane Laura could amount to $9 billion; which most of the losses in the USA from wind and storm damages.

Cafes take a hit as Costa Coffee axes 1,650 jobs

As the pandemic continues to affect business nationwide; Costa Coffee will now have to cut up to 1,650 jobs as trading has remained challenging during the Covid-19 pandemic.

UK economy at worst risk than previously thought say Bank of England

Experts at the Bank of England have warned of the risks that the economy can suffer more damage from the coronavirus pandemic that previously announced last month. They have said that Britain’s economic output will now be permanently 1.5% points lower than it would have been if the pandemic hadn’t occurred.

Highest level of empty shops due to pandemic

Vacant shops on the high street have increased to the highest level in six years; particularly in city centres where visitor numbers have decreased due to the lockdown and ongoing coronavirus pandemic. According to retail analysis from Springboard, there were 40% fewer visitors in August compared to the same time last year; where there were 11% of empty shops in July compared to 9.8% in January.

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