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The latest riots and looting in South Africa have been utterly devastating for local businesses. When the dust eventually settles, the reality is that many businesses are going to have a tough time bouncing back from the destruction. Those that are able to pick up the pieces will be the ones that have business interruption insurance in place.
2020 challenged all of us. The most severe economic contraction in decades triggered vast monetary accommodation and fiscal support packages that altered the investment landscape. Now, as we approach 2021, the promise of COVID-19 vaccines is game changing. It encourages us to anticipate a return to pre-pandemic activities.
COVID-19 has created a universal imperative for governments and businesses to take immediate actions with significant financial ramifications. According to our latest study, market capitalisation for the biggest 2,000 companies worldwide has declined by 24 percent since the beginning of the outbreak, losing more than $12.4 trillion.