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63: 'Coronavirus a pandemic’ How it affects business & the global economy
Mar 12 2020
Length: 8 mins
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63: 'Coronavirus a pandemic’ How it affects business & the global economy

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Summary
The World Health Organization has characterized the coronavirus outbreak as a ‘pandemic’. This holds grave implications for both business and the global economy. Of particular concern is the fate of contracts. Insurers, for example, may invoke force majeure provisions and refuse to honour claims given the unexpected turn of events that has affected a vast number of people.

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