Impact

Degree of Future COVID-19 Revenue Impact Is ‘Simply Unknowable’

Chubb Chairman and CEO Evan Greenberg insists the global P/C insurer has strong fundamentals, but warned at the same time that the ongoing pandemic crisis will spur unpredictable revenue challenges affecting many lines of coverage.

Broadly speaking, the insurer will likely take hits on the liability side and earnings via at least a temporary reduction in premium revenues, Greenberg explained during an April 22 investor call held to discuss Chubb’s Q1 2020 earnings.

“Our growth momentum, particularly in our commercial [property/casualty] business globally, continued into April, and we continue to experience improved rate to exposure,” Greenberg said. “As we go forward, offsetting that, will be a meaningful impact to growth from the health and economic crisis as exposures in important areas shrink for a time, with the impact varying by country,” Greenberg said.

Consumer-related lines including travel insurance, A&H “discretionary purchases” and automobile insurance will all take hits, as customers

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Mnuchin Pulls It Off? ‘Economic Impact Payments’ (Free Govt Money) Hit Bank Accounts Today!

Some Americans will see fatter balances when they log-in to their bank accounts today. Here are the details…

(by Half Dollar) Stevie did say “you’ll get your money in two weeks”.

And he said that on April 2nd:

And it seems he’s following through with the Free Lunches!

From the IRS:

Of course, we don’t know if every single person who has a bank account on file will get their free government money by this Thursday, when Mnuchin’s 2-week timeline runs out, but hey, this is a start.

Earlier this morning, I speculated what might happen with the free money, so check out our outlook if you

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COVID-19: Finance professionals worry over impact of the pandemic on businesses

Finance professionals working in organizations, large and small in the public and private sectors, have expressed deep concerns about the impact of Covid-19 on people, productivity and cashflow of businesses.

The dreaded disease which the World Health Organisation has described as a global health emergency, is taking toll on families and their businesses, leading to pay cuts and posing threat to job security.

A  new global research conducted by Association Of Chartered Certified Accountants (ACCA) among 10,000 finance professionals, including an expert panel of 227 in Nigeria turned out startling revelations.

Respondents in Nigeria say the most severe impact of the virus is employee productivity being negatively affected, with 55 percent saying this was the case, followed by cash flow problems hitting business viability.

33 percent of the respondents, according to the research, stated that the virus is really an impact while  a third of the respondents explained they were

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Money Supply: Definition, Quantity, and Impact

The U.S. money supply is all the physical cash in circulation throughout the nation, as well as the money held in checking accounts and savings accounts. It does not include other forms of wealth, such as long-term investments, home equity, or physical assets that must be sold to convert to cash. It also does not include various forms of credit, such as loans, mortgages, and credit cards.

Measurement of the Money Supply

The Federal Reserve measures the U.S. money supply in three different ways: monetary base, M1, and M2.

  • Monetary base is the sum of currency in circulation and reserve balances (i.e., deposits held by banks and other depository institutions in their accounts at the Federal Reserve).
  • M1 is the sum of currency held by the public (i.e., currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions); traveler’s checks
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