coronavirus impact News

Disaster Aid Available for Tennessee Small Businesses Affected by Virus Outbreak

Tennessee small businesses that have been economically harmed as a result of the coronavirus outbreak can apply for U.S. Small Business Administration disaster loans, the state said. Small businesses and nonprofit organizations are eligible to apply for economic injury disaster …

Pandemic Hampers World’s Weather Forecasts with Halting of Commercial Flights

The pandemic that has idled scores of commercial flights is having a little-noticed consequence for meteorologists, whose forecasts rely in part on data collected from planes. That means a crucial eye in the sky has weakened just as spring flood …

The Upton Group Launches Delivery Service Program for Restaurants, Small Businesses

The Upton Group, LLC, a national insurance agency specializing in food delivery and restaurant insurance, has created a new website for restaurants and small businesses impacted by government orders to shut down to obtain insurance coverage for delivery-only services. There …

India in Lockdown Rushes to Maintain Back Office Functions for Global Businesses

Companies in India are scrambling to ensure that the millions who staff the back offices of Wall Street banks and take on work outsourced by firms from airlines to insurers can keep going as the nation mandates increased work from …

Tokyo Games Delayed to 2021 in 1st Postponement in Olympics’ 124-Year History

The Tokyo Olympics were postponed on Tuesday into 2021, the first such delay in the Games’ 124-year modern history, as the coronavirus crisis wrecked the last international sporting showpiece still standing this year. Though a huge blow to Japan, which …

Fitch Revises Outlook for London Insurance Sector to Negative on COVID-19 Impact

Fitch Ratings has revised its outlook for the underlying fundamentals of the London market insurance sector to negative from stable. The sector outlook revision reflects increased concerns over the COVID-19 disruption and the related impacts on the credit quality of …

Consumer Groups Want Auto Premiums to Reflect Coronavirus Curb on Driving

The shutdown of workplaces and gathering spots around the country to slow the spread of coronavirus may lead to a sharp reduction in auto insurance claims. Two consumer groups want to make sure that insurance carriers don’t enjoy any windfall. …

French Insurers to Contribute $216M to Coronavirus Solidarity Fund for Businesses

French insurance lobby FFA said on Monday insurers would contribute up to 200 million euros ($216 million) to funds set up by the government to help companies deal with a significant drop in activity due to the coronavirus crisis. French …

Treasury Secretary Mnuchin Says Coronavirus Lockdown to Last Until June

The lockdown affecting large segments of the American public to try to curb the spread of the coronavirus is likely to last 10 to 12 weeks, or until early June, U.S. Treasury Secretary Steven Mnuchin said on Sunday. Americans are …

Cruel Paradox: Beating Virus Means U.S. Recession

The coronavirus is dealing a death blow to the longest U.S. economic expansion on record, triggering layoffs and putting intense strain on the nation’s financial system. In a cruel paradox, the very steps that are needed to contain the outbreak …