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Lloyd's say virus payout to be biggest since 9/11

Insurance market Lloyd's of London say coronavirus-related claims could cost up to $4.3bn.

Insurance market Lloyd's of London say coronavirus-related claims could cost up to $4.3bn. It estimates the global insurance industry could face a bill in excess of $200bn from the pandemic, and Ashwin Mistry, chairman of British insurance firm Brokerbility discusses what that might mean for consumers as well as companies like his. Also in the programme, we travel to Chile, where the Βι¶ΉΤΌΕΔ's Jane Chambers reports on some businesses bucking the impact of lockdown. The Βι¶ΉΤΌΕΔ's Russell Padmore tells us how members of the East African Community, a trading bloc including countries like Uganda, Tanzania and Sudan, have agreed to use digital tracking to monitor the movement of cargo trucks. Plus, the Βι¶ΉΤΌΕΔ's Victoria Craig reports on efforts under way to save Britain's cheese industry from collapsing under the weight of coronavirus. Jason Hinds of cheese retailer Neal's Yard Dairy discusses a box of cheeses they put together which sold very quickly. Joe Schneider, owner of Stichelton Dairy, which makes one of the cheeses in the box tells us it was a big boost to the firm's bottom line. And Miguel Gomez, associate professor at Cornell University, says the Covid-19 crisis could place a greater emphasis on sales of food directly from small producers like artisanal cheesemakers to consumers.

(Picture: The Lloyd's Building in London. Picture credit: Getty Images.)

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27 minutes

Last on

Thu 14 May 2020 14:32GMT

Broadcast

  • Thu 14 May 2020 14:32GMT