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Summary: Though bear markets are never fun, this bear is particularly gut-wrenching because it was caused by the coronavirus catastrophe that continues to drastically change how we live our lives. With many clients fretting and some even more unnerved, here is my take on what advisors should do.
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Summary: AM Best and Fitch Ratings are developing stress test for insurance companies to gauge how COVID-19 virus might impact their balance sheets, if and how risk-adjustments need to be made to their capital levels, investment portfolios, reserve adequacy and other aspects.
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Summary: The old saw is that great leaders are made not born — made of circumstances they did not create but that they faced head on. At home in New York City on Sept. 11, 2001, fellow residents and I witnessed acts of great heroism, selfless sacrifice and caring. We also saw ordinary citizens take charge, lead others to safety and calm frightened neighbors.
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Summary: An economic stimulus bill in response to the COVID-19 virus is on a fast track in the Senate and includes provisions to suspend penalties on early access to retirement accounts.
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Summary: Less than three months ago, a mystery illness surfaced in Wuhan, China, and was quickly named COVID-19, a type of coronavirus. We know what has transpired from that point until today, with an unprecedented lockdown of populations and economies around the world.
