"the Impact Of Covid-19 On Travel Insurance Policies In Australia"
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From school closures to devastated industries and millions of lost jobs, the social and economic costs of the pandemic are many and varied. Covid-19 threatens to widen inequalities everywhere, undermine progress on global poverty and clean energy, and much more.
"the Impact Of Covid-19 On Travel Insurance Policies In Australia"
The best solution is to stop this harm from happening by using tests, treatments and vaccines wherever they are needed. This will cost only a fraction of the massive economic losses the pandemic is causing each week.
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To slow the spread of the virus, schools have closed around the world. One year after the start of the pandemic, almost half of the world's students have been affected by school closures. Millions of girls in some countries may not return at all, putting them at risk of teenage pregnancy, child marriage and violence.
Source: World Bank data, market intelligence and UN, ACT-Accelerator Plan and Investment Opportunity presentation and SDG Integration.
Businesses also closed, resulting in the equivalent of 255 million full-time jobs lost in terms of hours worked in 2020. Among the hardest hit are workers in the informal economy, young people and women. Any economic recovery is likely to be uneven, leading to greater inequality in the coming years.
Women have been hit harder economically by the pandemic, as they make up a large proportion of workers in sectors hit hard by Covid-19, including accommodation and food services, as well as front-line occupations such as the health and social care sectors.
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With schools closed, they also had to take on more caregiving responsibilities at home. Whether through job losses or school closures, the pandemic threatens to undo decades of progress on gender equality.
Covid-19 is also slowing progress in clean energy, at least temporarily, by limiting investment and slowing the expansion of clean energy technologies.
There was some positive climate news: global energy-related CO2 emissions fell by 5.8% in 2020, the biggest drop in global CO2 emissions on record. But that was only a short-term effect of the lockdowns, not a sustained change, as demand for coal, oil and gas returned to near pre-pandemic levels in 2021.
No epidemic is ever simply a health problem in isolation, and Covid-19 has highlighted this on the global stage. We have to look at it from the perspective of an economic issue, a livelihood issue, a social issue and a political issue.
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Since March 2020, governments have spent staggering amounts on fiscal support – and deficits are the highest since World War II.
The Global Monitor 2020: Covid-19 report, the largest study of its kind, found that the pandemic had a disproportionate impact on low-income countries and low-income people in all countries. Almost half (45%) of workers in low- and lower-middle-income countries have lost a job or business because of the pandemic, compared to just 10% of people in high-income countries.
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While no economy is left untouched, lower- and middle-income countries are the most affected because they have little protection against economic shocks and tend to be more dependent on a few sectors, such as raw materials and tourism.
Millions of people have already fallen below the poverty line. In just a few months of Covid-19, extreme poverty has risen for the first time in 20 years.
Rich countries had the means to intervene in time to protect people and businesses. They pumped $9.8 trillion into their economies — the largest share of the $11.7 trillion total spent globally in 2020 — to deal with the effects of the pandemic. But low- and middle-income countries have failed to do the same.
An Oxfam report reviewed government measures to support people during the pandemic in 126 low- and middle-income countries, including multiple types of benefits for those affected, and found that 97% of the support provided was insufficient to meet basic needs.
Act Now: Reduce The Impact Of Covid 19 On The Cost Of Achieving Sdg 4
Rich countries spent an average of $695 per person, while low- and middle-income countries spent between $4 and $28 per person on cash support in 2020.
The Accelerator for Access to Tools for Covid-19 (ACT) is a global collaboration of health organizations, scientists, businesses, civil society, governments and philanthropists, including , working together to bring life-saving tests, treatments and vaccines from the laboratory to the frontline .
Without tangible solutions to stop the spread of the virus and treat those who fall ill, the pandemic will continue to steal lives and livelihoods.
The biggest investment we can make now is in the research, development and equitable distribution of tests, vaccines and treatments.
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The good news is that the investment required is small compared to what the world will continue to lose if we do not act. For every month of delay in expanding access to Covid-19 vaccines, tests and treatments in an equitable way around the world, the world loses 120,000 lives and $460 billion in economic output, the International Monetary Fund estimates.
The necessary investment relies on countries and international organizations showing leadership, pooling their resources and recognizing that this crisis can only be overcome if we act together.
We fund research to better understand what causes and drives infectious diseases to escalate and solutions to control their impact. The Covid-19 pandemic and the responses to it have created a global crisis that extends beyond the impact on health into all aspects of life. The pandemic poses a threat to sustainable development and the implementation of the UN Sustainable Development Goals. The impact of the crisis is hardest on those groups that have already been marginalized and excluded, and existing inequalities are being exacerbated and deepened.
A new report, Social Impacts and Responses Related to Covid-19 in Low- and Middle-Income Countries, prepared for the Foreign, Commonwealth and Development Department's (FCDO) Social Development Cadre, draws on the available literature, research and evidence on the emerging social impacts of the Covid-19 pandemic in low- and middle-income countries and considerations on preparedness, response/mitigation, resilience and recovery measures taken or proposed in response. Key messages from the report include:
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The poor and near-poor have little ability to withstand the economic shock of Covid-19. Many of those who escaped extreme poverty in recent years are still vulnerable to falling back into it. Poor people and people living very close to the poverty line in urban and rural areas are disproportionately affected by the economic consequences of the pandemic, as they are more likely to lose their jobs/livelihoods and have little opportunity to resort to social protection. Projections show that between 71 million and 395 million people will fall into extreme poverty, most of them in sub-Saharan Africa. The number of people facing acute food insecurity could double to more than 260 million by 2020.
Lack of access to social protection contributes to people's vulnerability to shocks caused by Covid-19. About 55% of the world's population has no or insufficient social protection, especially in Africa, where 80% are not covered. Covid-19 has exposed serious gaps in social protection systems, particularly in terms of access for informal sector workers, part-time workers, temporary workers and the self-employed. The social protection response to Covid-19 has been uneven, with Africa having the lowest coverage rates of 2% for cash measures and 5% for cash and in-kind measures combined.
Existing inequalities were exposed and exacerbated, with those already marginalized and vulnerable most affected – including people with disabilities, the elderly, children from poor families and/or marginalized and excluded groups, young people, informal workers, migrants, forcibly displaced persons, racial and ethnic minorities, indigenous peoples and LGBTQI+ people. They are more likely to lose their livelihoods as they work in sectors most affected by Covid-19 and have limited or no access to social protection, face increased barriers to access to healthcare and education, and increased stigmatization , discrimination and violations of their human rights.
Women and girls are among the most affected by the impact of the Covid-19 pandemic, and it has the potential to reverse decades of progress in their development and rights. They are more likely to work in the most affected sectors, face increased caregiving burdens and have less access to online learning, and are more likely to drop out of school. They experience a large increase in gender-based violence (including increased cases of female genital mutilation and child marriage) and reduced access to sexual and reproductive health services, leading to millions more unwanted pregnancies.
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The space in which marginalized and excluded groups can express their voices and hold the government accountable is closing, and some emergency laws and responses to the pandemic have violated their human rights and caused the stigmatization and, in some cases, the intentional marginalization of certain groups.
The lack of disaggregated data and meaningful participation, representation and inclusion of affected populations in decision-making in response to Covid-19 contributes to
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