coronavirus recession News

Why Now May Be the Best Time to Start an Insurance Agency: Viewpoint

Starting an independent insurance agency, or any business, is a risky proposition. You’re moving from a secure position with a regular income and foreseeable future to a place where uncertainty is the new normal. Some may think that’s truer than …

From Insurers to Landlords, Retailers to Restaurants, COVID Reshapes Economies

It would be just a temporary precaution. When the viral pandemic erupted in March, employees of the small digital insurance firm Thimble fled their Manhattan offices. CEO Jay Bregman planned to call them back soon — as soon as New …

Why the Coronavirus Recession Is Not Like the Last Recession

Judith Ramirez received a letter this month that she’d been dreading: The Honolulu hotel that furloughed her from a housekeeping job in March, during the lockdown triggered by the coronavirus pandemic, made her layoff permanent. Ramirez, 40, was originally told …

Risk Professionals Reassess Top Risks During Post-COVID Era

Reaching out to some of the same risk professionals that respond to the its “Global Risks Report” each year, the World Economic Forum announced the results of a special “COVID-19 Risk Perception Survey,” finding their concerns centered on economic risks …

Risk Managers Expect Prolonged Recession From COVID-19: World Economic Forum

Risk managers expect a prolonged global recession as a result of the coronavirus pandemic, a report by the World Economic Forum showed on Tuesday. Two-thirds of the 347 respondents to the survey – carried out in response to the outbreak …

U.S. Economy Hit Hard in Q1 But Worse Contraction Still to Come

The U.S. economy contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the novel coronavirus almost shut down the country, ending the longest expansion in the nation’s history. …

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 …