Delaying the Olympics is likely to cost insurers much less than canceling the Tokyo Games altogether, with a chance that some of those involved may not have policies specifically covering a postponement, industry sources say.
To offset the crushing costs of trying to stem a global epidemic, the World Bank and partners announced the creation of “pandemic bonds”, with the idea was to leverage private capital from Wall Street firms that would help stricken poor countries. But since the bonds were launched in 2014, investors have reaped more profits than countries battling epidemics.
Most companies in Britain don’t have insurance cover for closures caused by the coronavirus outbreak, the Association of British Insurers said on Tuesday.
The Federal Reserve cut short-term interest rates by half a percentage point on Tuesday in an effort to protect the economy from more damage from the virus outbreak. What does all this mean for home buyers? Or those looking to lock in a mortgage rate? For owners considering a refinance? And for those holding an adjustable-rate mortgage?
Global insurers face a hefty bill if the coronavirus forces the cancellation of the Summer Olympics in Tokyo, with estimates of the cost of insuring the sporting showpiece running into billions of dollars.
Genetic testing can be a powerful tool for insurers - potentially allowing them to price risk better. But it also carries with it some potential risks, if applied indiscriminately.