The Hong Kong arm of DBS Bank has announced a partnership with Chubb Insurance to provide customers with free coronavirus health insurance cover.
The coronavirus Hospital Cash Plan insurance offering is part of DBS's "community relief and support efforts."
Launched on 1 March, the special health insurance package is for 30-days of cover free of charge. The plan provides daily cash benefits for hospital and ICU admittance in relation to the coronavirus, or COVID-19.
There is agreement that the virus will be a temporary problem"
It also offers worldwide coverage for policyholders who need to travel during this period.
The insurance product is applicable to Hong Kong residents aged 18 years and above, and customers can register for the plan online until 21 March.
Meanwhile in the US the Federal Reserve cut interest rates by 50 base points in an effort to combat the effects of the coronavirus. The Fed described the unexpected decision as "an emergency move."
Meanwhile, as the virus continues its spread around the world beyond China, many from across the industry voiced their concerns for the world economy. Here is a selection:
Ken Wong, Asian Equity Portfolio Specialist at Eastspring said: "Asian Equity market price movements have been substantial. Short-term earnings and sentiment has been hit on many stocks but the key question for valuations is whether long-term earnings and sentiment will be hit."
"We have not made any significant changes to the portfolio to date, however have trimmed some stocks that have outperformed and added to some we believe have been over-sold," said Wong.
However John Vail, chief global strategist for Nikko Asset Management, does not see the problem lasting: "After polling many of our top investment staff globally, there is agreement that the virus will be a temporary problem."
"Of course, the global economy had already been badly hit by China's slump and now it is further worsening, especially in the Asia Pacific region, but even to quasi-recessionary levels in the West. Indeed, there is even a significant chance that the virus and economic conditions will deteriorate well into the 2Q, but this chance is much lower than the odds for improvement."