Lloyd's has a warning stating that insurers must prepare for the threat of pandemics. The company’s emerging risk teams feel as if a pandemic poses a threat because they have a history of reoccurring every 30 to 50 years meaning one should occur in the near future. Trevor Maynard, emerging risks manager, stated that it is imperative for businesses to make sure that they are not the only one unprepared for a pandemic should one occur and then perform worse than competitors.
Lloyd’s report, predicts that a worldwide pandemic could devastate the global GDP by up to 10 per cent, thus creating heavy losses for insurers. Maynard emphasized the fact that companies should not prepare for one particular worst case scenario, instead they should safeguard against many different types of pandemics.
http://www.strategicrisk.co.uk/
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