Healthcare Providers’ Coronavirus Response: Following the Center for Disease Control’s (CDC) announcement that the United States should prepare for a major coronavirus outbreak, healthcare providers are planning and implementing their response. Events over the last several days have made it clear that the COVID-19 virus is present in the US and is spreading within some communities, according to Bruce Hamory, MD, Partner and Chief Medical Officer in Guy Carpenter affiliate Oliver Wyman’s Health & Life Sciences practice, and Helen Leis, Partner in Oliver Wyman’s Health & Life Sciences practice.
Coronavirus Is Rupturing Global Supply Chains: The coronavirus (COVID-19) outbreak in China will harm the world’s gross domestic product growth since China accounts for 15.4 percent of global products and services produced. Approximately 500 manufacturing facilities are located in Wuhan, the epicenter of the outbreak, where quarantines are forcing plants to shut down or slow down. Many firms are issuing earnings warnings, and major banks are predicting that both China’s GDP growth and global GDP growth will slow in 2020, according to Michael Lierow, Partner; Cornelius Herzog, Principal; and Martin Zollneritsch, Senior Manager, at Oliver Wyman.
2020 AFP Risk Survey – Cybersecurity Continues to Dominate Risk Landscape: While cyber risk flew under the radar 10 years ago, today it’s a top concern. In a survey of nearly 365 treasury and financial professionals, 53 percent of respondents reported that cybersecurity risk is currently the most challenging risk to manage, and the majority believe it will continue to be for the next three years. This is one of the primary takeaways from the 2020 AFP Risk Survey Report, prepared by the Association for Financial Professionals with support from Marsh & McLennan Advantage Insights, which examines the perceptions of the current risk environment and preparedness among treasury and financial professionals.
Global Risks Report 2020 – The Slowing of Health Progress: Following over half a century of rapid improvements to medicine, public hygiene and healthcare infrastructure, progress is beginning to decelerate and lifespan disparities based on geography and socioeconomic status are growing. The 15th edition of the World Economic Forum’s Global Risks Report, created in partnership with Marsh & McLennan and Zurich Insurance Group, examines the factors behind this slowdown, and the repercussions for the broader (re)-insurance market and industry.
How to Put People First As the Coronavirus Outbreak Grows: The ongoing novel coronavirus (2019-nCoV) outbreak has dominated headlines and captured public attention over the last several weeks. Although the overwhelming majority of reported cases have been in China, cases have been reported in several other countries, including the U.S., U.K., Canada, France, Germany and Japan. This has fueled concerns that the disease could ultimately become a global epidemic or pandemic, according to Renata Elias, Vice President at Marsh, and Mary Kay O’Neill, Partner of Health and Benefits at Mercer.
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The 2019 Asia Pacific Catastrophe Reinsurance Report: Guy Carpenter has released its 2019 Asia Pacific Catastrophe Reinsurance Report. The report reviews property catastrophe cover trends; market conditions, including losses and pricing; and catastrophe events in each of the major Asia Pacific countries during 2019.