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A.M. BestTV: AIR Worldwide's Fullam: Zika One of Multiple Pandemic Threats
[July 27, 2016]

A.M. BestTV: AIR Worldwide's Fullam: Zika One of Multiple Pandemic Threats


In this A.M.BestTV episode, Doug Fullam, manager, life and health modeling, AIR Worldwide, discusses the issues surrounding pandemics and other global health threats that include the Zika virus, respiratory illnesses and new types of flu. Click on http://www.ambest.com/v.asp?v=fullam716 to view the entire program.

"Pandemics occur with a frequency of about 3% to 6% per year," said Fullam, adding that these are also high morbidity and mortality events. Fullam noted the difference between a pandemic and an epidemic, explaining that a pandemic is a global event (2009 H1N1), while an epidemic is typically concentrated in one area (2014 West Africa Ebola outbreak).

Fullam also highlighted the potential economic impact of a pandemic, which can vary among different types of events. A major event, maybe another Spanish Flu, could account for trillions of dollars. A mini-pandemic or even an epidemic might involve billions of dollars. On average, estimated losses can range from approximately $400 billion to $700 billion, Fullam explained.

Fullam believes the insurance implications of a pandemic depend on the type of sector that a company operates in, with mortality and morbidity as key components. Other drivers include medical expenses, as well as deaths, which would impact life insurance companies. He also sees the travel industry as being heavily affected by such occurrences.

Recent episodes of A.M.BestTV include:

  • Aspen's Brew: Compliance Is Not the Same as Security: Oliver Brew, executive vice president, global head of cyber risk and head of international professional indemnity, Aspen Insurance Group, said cyber exposures are increasingly linked to property risks. With broader rules on ecurity and privacy forcing companies to focus on protecting their systems, most need to go further: http://www.ambest.com/v.asp?v=brew716.
  • Minding the Gap in Cyber Coverage: In a recent A.M. Best webinar, insurers and technologists examine how cyber policies are struggling to keep up with fast-developing cyber risks, as well as identifying and addressing gaps in coverage: http://www.ambest.com/v.asp?v=cyber716.
  • Driverless Cars Set to Remake Automobile Coverage: McKinsey & Co. predicts driverless cars will hit the road in 2020, but a new survey from Munich Re reports that many insurers are unprepared for the changes that autonomous vehicles will bring to the auto insurance sector: http://www.ambest.com/v.asp?v=autonomous716.
  • Takaful Market Secures Foothold in Malaysia: A.M. Best Senior Financial Analyst Salman Siddiqui explains how regulation has helped to boost growth in Malaysia's takaful industry: http://www.ambest.com/v.asp?v=takaful716.



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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