Over the last century, tens of millions of lives have been claimed by pandemics, epidemics, and outbreaks that also have wreaked havoc on businesses and damaged national economies. Despite advances in medicine and improved infection control practices, the novel coronavirus (2019-nCoV) outbreak originating in Wuhan, China — which the World Health Organization (WHO) has declared a public health emergency of international concern — along with the Zika pandemic and Ebola virus and Middle East respiratory syndrome coronavirus outbreaks in the last decade are stark reminders of the social, economic, and geopolitical dangers posed by rapidly spreading disease.
Outbreaks, Epidemics, and Pandemics: Preparedness and Response Strategies, a report from Guy Carpenter-affiliate Marsh, identifies the main challenges that organizations may face during the novel coronavirus health emergency and other outbreaks and looks at actions that risk professionals can take to mitigate these risks. The report also looks at several specific industries, such as health care, education, hospitality and restaurants, and marine, and highlights the need to develop clearly defined pandemic response escalation thresholds and robust insurance programs well ahead of an event.
