[April 27, 2016] |
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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.
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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.
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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.
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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.
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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.
Copyright © 2016 by A.M. Best Company, Inc. and/or its
affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160427006436/en/
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