 | Forum
Reply | The new Coronavirus economy
at 20:27 26 Mar 2020
That’s a very interesting point and it will be hard to predict how people will react. I know that a lot of investment funds have been hit with mass redemption requests as there was a flight to cash, but hopefully it doesn’t result in people just sitting on cash - the only way the economy can recover is to get everything moving again as quickly as possible |
| Forum
Reply | Rishi does realise bills are monthly, right?
at 20:14 26 Mar 2020
Jesus! You think setting up a universal income for every single person in the UK would ‘reduce paperwork’?! What planet do you live on. You seem eager to criticise everything that is being done here. The government has announced what seems to be the biggest bailout of people the world has ever seen, but all you do is criticise. Truly baffling |
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Reply | Starting to feel sorry for BJ
at 21:03 20 Mar 2020
No, absolutely agreed and sorry wasn’t what I wasn’t suggesting. If the insurance covers this, then it should pay out. My point is more that I’ve seen it suggested quite a few times on here this week that businesses can breath a sigh of relief if the government forces closure and they can all claim under their policy. If every business affected by this in the UK had insurance to cover all their losses, the insurance industry simply wouldn’t be able to cover it; the sums involved are astronomical and there simply isn’t enough liquidity in the insurance market to cover it. They would pay out all they had and then declare bankruptcy (leaving most businesses still massively out of pocket). Government intervention (like the measures suggested today) is really the only thing that can see us through |
| Forum
Reply | Starting to feel sorry for BJ
at 20:25 20 Mar 2020
It will ultimately depend on the terms of each policy, but the general consensus seems to be that it’s very unlikely this will be covered. People also need to remember that ‘insurance’ isn’t some kind of magic money tree; they are not sitting atop a massive pile of cash ready to bail all UK businesses out. If they were liable under these policies, you will very shortly see a number of insurers declaring bankruptcy.... |
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