After the dust settles

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      <subfield code="a">Although the world has witnessed outbreaks of infectious diseases before, most were contained locally, and more quickly, than the current COVID-19 pandemic. As a result, they had smaller and more localised economic and social impacts. COVID-19 containment measures have forced business closures, event cancellations and a general dampening of economic activity, resulting in a substantial decrease in GDP and employment. In the Eurozone, the Q2 2020 seasonally adjusted GDP is down 12%, and employment in terms of number of persons employed and number of hours worked has fallen by 2.7% and 10.7% respectively. It is expected that the impact of COVID-19 on Lloyd's of London will be greater than the impact of large losses witnessed post-2012.</subfield>
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