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On to court

With the pandemic dragging into its 17th month, insurers, lawyers and businesses said they’ve grown anxious about the looming prospect of litigation. The fear is of a surge of suits by customers or employees against businesses, alleging that they caught COVID-19 at a particular establishment, whose owners failed to take the necessary precautions to prevent illness.

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Navigating a hard market

As New Jersey businesses across all industries continue along the unprecedented road to recovery as the pandemic continues to evolve, rebuilding operations and generating income are not the only challenges they face. Many operational risks remain. By, HUB International Northeast Senior Vice President and Commercial Lines Manager Joseph DeMeo.

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New challenges ahead

Banks avoided a COVID-19 meltdown thanks to their ability to work with borrowers and other customers, and to a healthy dose of federal programs that directed money into the pockets of individuals and businesses. But financial institutions are now facing some other challenges, including the rise of fintechs. Bankers in the Garden State, however, plan to hang tough.

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A new model

Many New Jersey banks had previously invested in digital services, so “although the pandemic accelerated the shift by three to five years, the changeover went well,” according to NJBankers CEO John McWeeney. “Many people adopted remote banking during the height of the pandemic, and lot of them continue to use it.”

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