The COVID-19 situation is changing on a daily basis, and while the total impact to the insurance and reinsurance markets remains unknown, Guy Carpenter is advising clients in the space on how to best adapt to the circumstances. As COVID-19 continues to upend how businesses interact with technology and workers around the country continue to operate from home offices, the reinsurance market sees a number of emerging trends that present both challenges and opportunities.
The impact of COVID-19 has had far-reaching effects. As people slowly return to the new normal, a number of new challenges are presenting themselves, according to Darren Holmes, Senior Vice President at Guy Carpenter-affiliate Marsh.
One in particular is that of the management of legionella, with buildings laying mostly dormant for weeks. Testing regimes have been difficult to maintain due to lack of available services and restricted access to closed buildings; these conditions could lead to an increase in waterborne pathogens such as legionella bacteria.
Legionnaires’ disease is a type of pneumonia, which can cause serious respiratory illness and death. It occurs when inhaling fine drops of water, known as aerosols, containing legionella bacteria. Aerosols could be circulated by air conditioning units, or found around taps and showers where there is a build-up of scale restricting water flow. It is worth highlighting that due to the COVID-19 pandemic, an increased number of people could be more susceptible to Legionnaires’ disease due to a compromised respiratory system during or after infection with COVID-19.