COVID-19 NEWS BULLETIN 21/05/2020
Updates from us this evening
We have recently been introduced to a Business Interruption Insurance expert who has had a lot of success with claims for dental practice owners.
They operate on a no win, no fee basis, so it’s a no brainer really, especially for principals getting nowhere with their claims.
In summary, they:
Looks at the policy without charge
Advise whether there is potential to claim
Manage the claims process
Negotiate with the insurance company
Achieves payment on account (as the full extent of losses are not yet known)
And charge 10% of recovered monies.
If this is of interest, please let me know and I will arrange for them to make contact to discuss things further. I have also been made aware this week that employment legislation has been amended to state that any holiday which cannot be taken this year because of the coronavirus situation, can be carried over into the next two holiday years and until 2022. This means that any holiday accrued by employees is not lost and gives the business the opportunity to manage holiday requests so there isn’t a shortage of staff as business reopen.
Daily Press Briefing
Todays briefing is being led by Health Secretary Matt Hancock, along with Chris Whitty, the Chief Medical Officer and Professor John Newton, who co-ordinates the national testing effort. Mr Hancock today said that the Covid Alert Level is still at a 4 but the country is getting into a position to move to Level 3, claiming real progress is being made. With the looming Bank Holiday, people have been asked to renew collective efforts and to stay at home as much as possible. Breaking news from the press conference was that a faster form of swab testing is being trialled from today. This test could give a result in just 20 minutes.
10 million antibody tests have been promised. The results of government study suggest that around 17% of people in London and 5% of the rest of the country have tested positive for antibodies. The government have signed a contract to supply more than 10 million tests over the next few months. People who test positive for coronavirus antibodies will be told what they are able and unable to do, saying that it is importnant to stay one step ahead of the virus. The R infection rate is still below the level of one, said Chris Whitty today, meaing that the virus is still declining rather than growing. A question was raised regarding social distancing over Eid. Matt Hanock thanked the Muslim community’s observation of social distancing during Ramadan and urged pople to do the same for Eid. Mr Hancock said that a track and trace system is on target for delivery by 1st June.
New Bulletin – 21st May 2020
C19 Update from the last few days
Reported in the Financial Times is that the government hopes to extend the three-month mortgage holiday and is liaising with banks and regulators. More than 1.6 million customers have taken advantage of the scheme. As it stands currently, the first applicants who applied to the scheme would see the payment holiday ending in June. One idea currently is that mortgage payment holidays could be extended for a further 3 months. However, as with all payment holidays, this does not come for free and will be added to the total balance outstanding.
Much debate continues over reopening of English primary schools from 1st June. Many councils have feed back that they will not be ready to reopen for June. Also, the teaching union is keeping its stance that reopening of schools on this date is impractical and inappropriate.
Yesterday Superdrug were in the news as becoming the latest business to sell a commercial antibody test for £69. The NHS have claimed that they have reservations for the use of such test and have warned people in England against using. NHS England medical director Professor Stephen Powis has issued caution for using commercial tests as it is not yet known how reliable they may be.
Scientists in the US have advised that governments should not be hoping for a successful vaccine being developed anytime soon. But have stated that the virus could still be controlled without an effective vaccine by identifying infections, finding contacts who have been exposed and isolating them.
A trial has started in Oxford and Brighton to see if two anti-malarial drugs could prevent Covid-19. Chloroquine or hydroxychloroquine or a placebo will be given to 40,000 healthcare workers, all of whom are staff and in contact with Covid-19 patients. Early this week US President Donald Trump said that he has been taking the drug, despite warnings that it could be unsafe.
Further lifting of lockdown has been taking place around the globe. Todays front pages were full of packed out beaches given yesterdays beautiful weather and showed flocks of people heading for the coast. Over in France authorities have reclosed several beaches in Brittany after seeing behaviour outside that of what is allowed under their current lockdown measures. Ascension Day, a public holiday in many European countries, is sparking concerns that additional movement over the holiday could result in an increase of cases. Cyprus has announced an end to its many lockdown measures with outdoor areas for restaurants and pubs to reopen on Thursday along with services such as hairdressers and parks and playgrounds.
New Bulletin – 21st May 2020
Daily update on the UK market
Summary of possible influences on the markets today
Further growth of COVID-19 cases in Northern China, but not enough to be considered a second wave yet.
Antagonistic rhetoric between the USA and China continues.
The Bank of England has reiterated that it is not ruling out negative interest ates.
Should you have any concerns or questions, we are here for our clients and will happily arrange a telephone or video call appointment to provide guidance, please either call our practice mobile 07543 368 478 or email enquiries@money4dentists.com to arrange your appointment.
We are here to work through the current situation with you, so please do get in touch.