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Covid: School insurance fears for cancelled overnight trips

Covid: School insurance fears for cancelled overnight trips

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Schools and residential trip providers fear they will no longer be covered by insurance for visits cancelled because of coronavirus.

After changes last week, advice on the Association of British Insurers website no longer says schools will be covered for the loss of trips.

It now says schools should “seek a refund from the venue”.

The ABI says the advice was amended to reflect exclusions in policies as the pandemic continues.

Outdoor education centres across the UK have been closed since March under government coronavirus restrictions.

Last week providers wrote to the prime minister asking him to save outdoor education, which they said “faces an existential threat”.

Advising schools to ask for refunds rather than claim on their insurance for cancelled trips is another blow, according to Vanessa Fox, chief executive of the charity Farms for City Children.

Ms Fox says she spotted changes to the ABI’s Frequently Asked Questions section last week after following a link from the Department for Education website.

She told the BBC she had copied and pasted the section into an email to a colleague on 6 October.

At the time it promised: “In general, most schools will be covered under their insurance policy.”

The guidance advised schools to first seek a refund from the venue or tour provider – but said if the venue could no longer host the trip “because of official government guidance, the closure of the venue, or their reluctance to accept school trips due to their stated concerns about the spread of coronavirus, the school will be covered”.

However, she says the following day, the mention of cover had disappeared, with the answer just saying “the school should seek a refund from the venue”.

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ABI website

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The guidance changed overnight, says Vanessa Fox
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Bank Earnings Help Market Back From Overnight Dip, With Amazon Prime Day, Apple Event Next

Bank Earnings Help Market Back From Overnight Dip, With Amazon Prime Day, Apple Event Next

Key Takeaways:

  • Earnings season gets started with strong results from two major banks
  • JP Morgan and Citigroup
    C
    both beat analysts’ estimates, helped by trading revenue
  • Apple
    AAPL
    and Amazon
    AMZN
    keep focus on FAANGs as Prime Day, iPhone event ahead

Wave the green flag. Earnings season is underway.

It all got started today with JP Morgan Chase (JPM) and Citigroup (C) delivering fresh sets of results hot off the press. The overall market has a mixed tone, with Nasdaq 100
NDAQ
(NDX) futures higher but other indices trending lower overnight after yesterday’s incredible rally.

It’s the start of Amazon’s (AMZN) Prime Day, and Apple (AAPL) has an event later where it’s expected to reveal its new iPhones.

Major indices took a bump down early last night after Johnson & Johnson
JNJ
(JNJ) paused its Covid-19 vaccine trial due to an “unexplained illness,” but now it looks like JPM is helping bring us back.

Bank Earnings Solid Across the Board

JPM beat Wall Street’s average top- and bottom-line estimates and saw shares rise slightly in pre-market trading.

On the earnings side, JPM’s Q3 tally of $2.92 came in way above the average estimate of $2.23, while revenue of $29.94 billion was about $1 billion more than analysts had expected. To double profits from the previous quarter is amazing. Revenue was down year over year, but not by much.

One thing many had expected was strong results from JPM’s trading business, and those didn’t disappoint. Fixed income trading revenue rose 29% and stock trading revenue rose 32%. Not bad at all, and a reflection of continued volatility in the market that’s likely to help all the big investment banks.

The most surprising news was JPM setting aside just $611 million for possible loan losses, down from about

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Overnight Health Care: Regeneron asks for emergency authorization of coronavirus treatment Trump received | McConnell says he hasn’t visited White House in two months due to coronavirus

Overnight Health Care: Regeneron asks for emergency authorization of coronavirus treatment Trump received | McConnell says he hasn’t visited White House in two months due to coronavirus

Welcome to Thursday’s Overnight Health Care.



Donald Trump wearing a suit and tie: Overnight Health Care: Regeneron asks for emergency authorization of coronavirus treatment Trump received | McConnell says he hasn't visited White House in two months due to coronavirus | Employer-sponsored health insurance premiums rise 4 percent


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Overnight Health Care: Regeneron asks for emergency authorization of coronavirus treatment Trump received | McConnell says he hasn’t visited White House in two months due to coronavirus | Employer-sponsored health insurance premiums rise 4 percent

Regeneron filed for emergency authorization of its antibody COVID-19 treatment drug, just hours after President Trump claimed it basically cured him. Mitch McConnell hasn’t been to the White House in months, and a new analysis shows Americans’ job-based health care is continually getting more expensive.

We’ll start with Regeneron:

Regeneron asks for emergency authorization of coronavirus treatment Trump received

Biotech company Regeneron late Wednesday applied for emergency authorization for an experimental antibody treatment praised by President Trump.

“Subsequent to our discussions with regulatory authorities, we have submitted a request to the U.S. Food and Drug Administration for an Emergency Use Authorization (EUA) for our REGN-COV2 investigational antibody combination for COVID-19,” the company said in a news release.

The move came just hours after the president praised the efficacy of the treatment in a short video message posted on Twitter.

“They gave me Regeneron, it’s called Regeneron,” Trump said in the five-minute video Wednesday afternoon. “It was unbelievable. I felt good immediately. I felt as good three days ago as I do now.”

Why it matters: Trump was taking several drugs for his illness, so it’s not clear which helped him feel better. He claimed he has the “emergency use authorization all set,” but the FDA is supposed to make decisions based on science and not demands from the president. Regeneron’s drug is still undergoing clinical trials, and while early results seem promising, the company has not released data to back up its claims.

Read more here.

McConnell says he hasn’t visited White

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