In our first exclusive preview of Crawford®’s latest report, Scenario planning and adapting to emerging risks – A risk manager’s essential guide, we look at the question of whether corporates should take strategic planning steps to mitigate against pandemic risk…
It was the largest Ebola epidemic in history, affecting multiple countries in West Africa.
In the Guide, Crawford experts Dr. Andries G. Willemse, senior vice president of Crawford Global Technical Services® and Senior Vice President of Crawford Global Markets, Neil Allcroft, say corporates still prefer to pass the scenario planning challenge onto the public authorities. Andries and Neil go on to draw attention to the business response to this recent outbreak and examine whether scenario planning is truly just a concern of governments.
Ebola killed more than 10,000 people, and based on the evidence of increased human-to-human transmission, it quickly accelerated to the alert level four in the globally recognized WHO pandemic tracker.
“Interestingly, when Bird Flu had reached phase three back in 2009, the Association of Insurance and Risk Managers acknowledged the global challenge,” says the report. “Airmic (Association of Insurance and Risk Managers) said at the time that if phase four is reached, ‘then it is time to invoke pandemic business continuity plans’.”
During the avian flu outbreak a number of corporates invested a significant amount of resources to develop highly detailed response plans to a potential avian flu pandemic.
Crawford’s report stresses that even when Ebola reached this benchmark, corporates just monitored the situation, leaving local, national and even international authorities to deal with scenario planning.
To read more, please download a full copy of the Crawford & Company report Scenario planning and adapting to emerging risks – A risk managers essential guide at http://uk.crawfordandcompany.com/media/1859065/a-risk-managers-essential-guide-claim-trends-and-emerging-risks.pdf.