France’s private insurers would provide business-interruption cover of up to 2 billion euros ($2.2 billion) a year in total for small companies hit by the fallout of any future pandemics, under a system proposed by the industry body.

The proposals, which would not apply to the current crisis, are aimed at helping 2.9 million small and mid-sized companies to cover some losses should they be required by the state to shut down their businesses if disaster strikes again.Under the proposed mechanism, known as CATEX, private insurers and reinsurers would provide coverage of up to 2 billion euros annually to businesses overall, beyond which the state would step in via public reinsurer CCR.
The new guarantee would be built into either fire insurance contracts, which all France companies have; or into business interruption policies, which 50% of businesses have.

Investments should focus on improving access to health care and education, strengthening climate protections and broadening the access of low-income households and small business to financial products and technology, IMF Managing Director Kristalina Georgieva wrote.

Total U.S. coronavirus deaths are now over 113,000, by far the most in the world. That figure could exceed 200,000 at some point in September, Ashish Jha, the head of Harvard’s Global Health Institute, told CNN.

Ashish Jha, the head of Harvard’s Global Health Institute, said the United States was the only major country to reopen without getting its case growth to a controlled level – defined as a rate of people testing positive for the coronavirus remaining at 5% or lower for at least 14 days. Nationally, that figure has been between 4% and 7% in recent weeks, according to a Reuters analysis.

“The market has been rallying because they’re looking to 2021 and saying we’re going to get past this and then things will get sort of back to normal,” said Sean O’Hara, president of Pacer ETF Distributors in Malvern, Pennsylvania.

“One thing that really could change the trajectory here would be if we have a big bounce in a second wave. That’s the big fear.”

“Trade in the automotive and energy sector collapsed while trade in agri-food products has been stable.”

Trade in developing countries appears to have taken a “nosedive” in April, falling faster relative to developed countries, it said. Imports into developing countries fell by 19% in April while their exports shrank by 18%, it said.

Testing the vaccine in older adults with be critical because this group is at higher risk for the most severe effects of the virus, and older adults typically have less efficient immune function. The midstage study is testing the safety and preliminary effectiveness of two doses of the vaccine given 28 days apart.