We're sorry but your browser is not supported by Marsh.com.au

For the best experience, please upgrade to a supported browser:

X

Research and Briefings

Pandemics – Addressing a Growing Threat to Businesses in Asia

 


Published on 23rd January 2020

For much of the past few weeks, headlines around the region have been dominated by the novel coronavirus, also known as Wuhan pneumonia. Despite advances in medicine and improved infection control practices, this developing outbreak along with the swine flu and Zika pandemics in the last decade stand as stark reminders of the dangers posed by rapidly spreading disease.

Although public health officials must lead much of the preventive and curative work needed to limit the effects of infectious diseases, organisations can manage their own risk by planning their response to protect their people and fiscal integrity. To effectively respond to these threats, businesses should take a two-pronged approach: establishing preparedness strategies and reviewing their insurance coverage.

Managing pandemic and epidemic risk

Marsh, in conjunction with Munich Re and Metabiota, a leading risk modelling organisation, have developed a report to assist with the management of pandemic and epidemic risk.

The report, Pandemic Readiness: Risk Finance and Mitigation Strategies, identifies the main challenges that organisations will face during a health crisis and looks at the different actions that risk professionals should take to mitigate these risks. It also outlines the 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 resilient business continuity programs.

For more information, please contact Costa Zakis , Chief Operating Officer for Client Advisory Services at Marsh

"Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by Jardine Lloyd Thompson Pty Ltd (ABN 69 009 098 864, AFSL 226 827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions.

This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from Marsh on request.