COVID-19: Pandemic Insurance

PUBLISHED: 18/08/2020

Hindsight is 20/20. But foresight?

The pandemic threw the economy in a blender with the lockdown. Despite provinces emerging and advancing in opening up in stages, crowds and close contact are verboten. Needless to say the impact on tourism is near devastation. But out of that, the world renowned Shaw Theatre in Niagara on the Lake, was able to keep 500 workers paid, actors, musicians and crew.

A bit of shrewd business thinking and a bit of luck means more than 500 people who would have been out of work are not and collecting their paycheque. This has to be one of the most unique stories to come out of the pandemic.

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GUESTS:

Tim Jennings - Executive Director at Shaw Festival -https://www.shawfest.com/board-members/tim-jennings/

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REFERENCES:

https://nationalpost.com/entertainment/theatre/how-the-shaw-festival-kept-500-people-employed-by-taking-out-pandemic-insurance

https://www.thebig.ca/blog/title/insurance-saves-the-day/

https://www.cnn.com/2020/03/19/business/pandemic-insurance-coronavirus/index.html

https://www.cbc.ca/radio/costofliving/the-she-cession-business-interruption-insurance-and-tax-tips-for-canadians-now-working-from-home-1.5559652/battle-over-claims-heats-up-between-small-businesses-and-insurance-providers-1.5559660

https://home.kpmg/xx/en/home/insights/2020/03/do-insurers-have-covid-19-covered.html