Globally, many companies have been affected by significant business declines or closures due to coronavirus measures implemented by state governments and organisations. This has resulted in great financial losses for many industries and companies. In order to deal with this, some companies have tried to rely upon their Business Interruption ( BI ) insurance to cover their loss of revenue. The economic consequences of the COVID-19 pandemic on businesses have been dire, to sa

The Commissioner of Insurance, Mr Justice Ofori, has advised Chief Executive Officers (CEOs) and Chief Finance Officers (CFOs) of...

Insurers are creating products for a world where virus outbreaks could become the new normal after many businesses were left out in the cold during the COVID-19 crisis. While new pandemic-proof policies might not be cheap, they offer businesses from restaurants to film production companies to e-commerce retailers ways of insuring against disruptions and losses if another virus strikes. The providers include big insurers and brokers adding new products to existing coverage, as

Although it is rare for infrastructure projects to collapse during the construction phase, when it does happen the financial loss can be...

Losses from natural disasters are increasing in many parts of the world. Since even the best risk management cannot actually prevent...