COVID-19 transport and travel risks insights
Kennedys experts explore how COVID-19 is impacting on transport and travel.
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Our research identified five key risk themes that have implications and represent both challenges and opportunities for businesses, insurers, and wider society. This will assist in moving the conversation forward as we look beyond COVID-19, highlighting the important need to reshape the dynamic relationship between companies, households, and insurers.
In early December 2020, the UK government announced with considerable fanfare its approval of Pfizer/BioNTech’s COVID-19 vaccine. Around 40 million doses were ordered, and the UK’s mass vaccination programme commenced in December 2020, with the US, Canada, Bahrain and Saudi Arabia close behind. On 30 December 2020, the Oxford AstraZeneca vaccine received UK approval with the first doses administered in early January.
Almost one year on from the first reported case of the novel coronavirus in the Wuhan province of China, pensioner Margaret Keenan and intensive care unit nurse Sandra Lindsay, have now received the first vaccines in the UK and US respectively.
The aviation sector has been one of the most affected sectors due to the COVID-19 pandemic, suffering the biggest crisis in its history. Nevertheless, with the assistance of government measures and industry guidance, it seems that its slow recovery has started.
Historically, difficulties in proving a causal link between air pollution and poor health have kept at bay pollution related claims and governments’ accountability. However, this may be about to change.
US Commission issues interpretive rule on demurrage and detention charges – possible relief for shippers
On April 28, 2020, the US Federal Maritime Commission (FMC) issued an interpretive rule on demurrage and detention charges under the Shipping Act 1984.
Our latest thinking into the insurance impacts arising from the ongoing crisis is offered against England entering Phase 3 of its recovery plan, with large parts of the economy opening for socially distanced service for the first time since early March.
Our latest thinking into the insurance impacts arising from the ongoing crisis is offered against the Office for National Statistics having confirmed that the UK economy shrank by 20.4% in April, the largest monthly contraction on record.
The COVID-19 situation has already left many containers locked up in ports and at warehouses and these goods can attract considerable charges and liabilities.
As consumer demand diminishes and global economies are predicted to hit record recessions, demand for goods and for raw materials has seen a corresponding collapse.