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A.M. BestTV: Pandemics' Impact Reaches Beyond Health
[April 27, 2016]

A.M. BestTV: Pandemics' Impact Reaches Beyond Health


In this A.M.BestTV episode, insurers say that the outbreak of Zika, SARS, MES and Legionnaires diseases are affecting business operations, as well as generating surprising impacts and increased costs. Click on http://www.ambest.com/v.asp?v=pandemic416 to view the entire program.

The worst pandemic occurred in 1918, when the Spanish influenza killed 50 million people worldwide, with the U.S. death toll being 675,000, or five times the number of U.S. soldiers killed in World War I.

"Pandemics are a meaningful threat," said Gigi Norris, managing director, Aon Risk Solutions. "As an epidemiologist, I spend a lot of time talking to people about the threat that is imminent around pandemics. Today, the biggest threat is pandemic flu, which is a highly transmittal virus."

Kimber Lantry, executive vice president, Axis (News - Alert) Healthcare, noted that in 2003, the SARS epidemic cost Princess Margaret Hospital in Toronto, Canada, $12 million in lost revenue, while in 2014, in a two-month period after admission of its first Ebola patient, Texas Presbyterian Hospital lost $20.3 million in revenue.

Recent episodes of A.M.BestTV include:

  • Inland Marine Targets Emerging Risks But Vexing Old Risks Remain: Kevin O'Brien, president and chief executive officer, Inland Marine Underwriters Association, states that members are responding to new risks and data brought by the Internet of Things, telematics and more. Meanwhile, traditional risks such as cargo theft remain a challenge to insurers: http://www.ambest.com/v.asp?v=kobrien416.
  • Technology and Drones Remaking Sectors: Insurers and claims providers at the Property & Liability Resource Bureau's Claims Conference & Insurance Services Expo said companies are responding with more sophisticated technology, new ways to report and survey damage and new ways to manage claims across jurisdictions: http://www.ambest.com/v.asp?v=plrb416.
  • Insurers: Look to the Program Sector for Innovation: At the Target (News - Alert) Markets 2016 Mid-Year Meeting, attendees said specialized insurance programs are the launching ground for a host of new coverages and specialties: http://www.ambest.com/v.asp?v=targetmarkets1416nc.
  • Risk Managers and Insurers Brace for Weather, Climate Volatility: At the RIMS meeting, insurers and risk managers said they are taking steps now to lessen the impact of changing weather patterns and rising sea levels: http://www.ambest.com/v.asp?v=rims6416nc.



A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.


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