The next global pandemic, or more localized epidemic, will happen whether organizations are prepared for it or not. Not surprisingly, a health crisis of this extent will likely have multiple effects on businesses, including a diminished workforce, operational disruptions, reduced customer demand, and the risk of reputational damage.
While public health authorities will lead the fight against a pathogen that could threaten millions of lives, organizations must take steps to protect their people and operations in two main ways: establishing preparedness strategies and reviewing their insurance coverage.
Pandemic Readiness: Risk Finance and Mitigation Strategies, prepared by Marsh with support from leading risk modeling firm Metabiota, identifies the main challenges that organizations will face during a health crisis and looks at the different actions that risk professionals should take to mitigate these risks. The report looks at industry-specific impacts on health care, education, hospitality and restaurants, and marine industries and highlights the need to develop clearly defined pandemic response escalation thresholds and robust insurance programs well ahead of an event.
Read or download, Pandemic Readiness: Risk Finance and Mitigation Strategies.