The Coronavirus threatens both life and capital as it continues to spread worldwide. Asset Protection and Risk Management Authority, attorney Ike Devji identifies 9 Coronavirus Threats To Business that business owners and executives must know and act on now to protect their businesses, employees and clients.
Phoenix, AZ, March 02, 2020 –(PR.com)– Asset Protection and Risk Management attorney Ike Devji’s new article Coronavirus: 9 Business Risks Every Business Must Address covers risks to life and capital posed by the epidemic.
Devji, who has 17 years of experience helping to protect thousands of business owners and physicians across the United Sates, identifies the following specific risks to life and capital posed by a potential pandemic. These risks are in addition to the nearly five trillion dollars in financial market losses to date.
1. Loss of labor force to death or illness
2. School closures creating labor shortage childcare crisis
3. Loss of key persons and executives to death or illness
4. Loss of business
5. Loss of attraction and reputation for “infected” businesses
6. Loss of supply chain for goods and logistical disruptions
7. Gaps in multiple kinds of commercial and personal insurance that need to be examined immediately
8. Cashflow, debt and solvency risk caused by some combination of the above
9. Asset Protection risks and uncovered litigation exposure caused by some combination of the above
Devji noted that other threats are continuing to evolve by the hour, as reports of exposures, infection rates and business reports are being made public, including a mass number of cancellations in restaurant reservations, flights, events, meetings and conventions that will costs the meeting industry alone $250 Billion by summer 2020. He will continue to monitor and report on these threats for the benefit of the public, his clients and their advisors in Arizona and across the country.
Published at Mon, 02 Mar 2020 15:53:09 +0000