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Risks

Pandemic

The COVID-19 pandemic is one of the most significant global threats to human safety and financial stability we have seen in our lifetimes. The impact on the (re)insurance industry is far-reaching, touching virtually all lines of business in every geography. Guy Carpenter is here for our clients through adversity, providing guidance for navigating extraordinary times.

Dedicated COVID-19 Client Resources

Guy Carpenter was quick to step up for our clients when COVID-19 hit, developing resources to help them understand, mitigate and manage risks associated with the pandemic. We continue to leverage the deep expertise within Guy Carpenter and Marsh McLennan to share timely, insightful thought leadership addressing the (re)insurance issues that matter most; informing critical decisions; and helping manage external stakeholders, including regulators, rating agencies and risk partners.

Contact Us

  • David Priebe

    Chairman

    New York City, US

    David.H.Priebe

    Ruth Lux

    Head of Public Sector, EMEA

    London, UK

    Ruth.Lux

Addressing the Protection Gap for Pandemic Risk

Marsh McLennan, in partnership with the Organisation for Economic Co-operation and Development (OECD), brought together businesses, insurance intermediaries, insurance and reinsurance companies and policymakers to better understand the impact of the COVID-19 crisis on different types of policyholders. We also explored the challenges that insurers and reinsurers face in extending more significant support and the steps needed to find a solution to ensure greater financial impact management in the future.

Below are the event highlights and reports created following the discussions.

  • Addressing the Protection Gap for Pandemic Risk: Setting the Scene

    Find an overview of the impacts of COVID-19 on businesses and the implications of limited insurance coverage for pandemic-related revenue losses, as well as some of the proposed solutions for establishing insurance coverage solutions in the future.

  • Addressing the Protection Gap for Pandemic Risk: Finding a Way Forward

    View outlines of the main outcomes of the discussions, including the challenges to insurability of pandemic-related losses, opportunities to improve insurability and some of the critical next steps for building future resilience against pandemic risks.

  • Tool: COVID-19 Pandemic Navigator

    See how the Oliver Wyman COVID-19 Pandemic Navigator, a proprietary suite of models and tools, provides visibility into the next COVID-19 hotspots and delivers the most relevant, actionable insights to policymakers and business leaders as they navigate the next waves of the crisis. This tool forecasts the number of new, active and cumulative coronavirus cases as well as deaths across 90+ countries and sub-regions.

The Need for Public-Private Partnerships

The impacts of COVID-19 are too wide-ranging for any one sector to carry the risks alone, and some sort of mechanism with government participation needs to be put in place. Depending on the solution that's employed, being either a 100% governmental solution or one where insurers share part of the financial risk, reinsurers can provide vital risk capital to support both taxpayer and insurer exposure, as they do for a number of other critical risks including flood and terror.

More on the COVID insurance gap

Global Risks Report 2021

The 16th edition of the Global Risks Report, published by the World Economic Forum with support from Marsh McLennan, highlights the disruptive implications of major risks, including the COVID-19 pandemic, which may reshape our world over the next decade.

The report draws on the survey results from nearly 700 experts and decisionmakers globally who were asked about their concerns for the next decade, how global risks interact and where opportunities exist to collectively act to mitigate these threats.

View the Global Risks Report

  • The (re)insurance industry, policyholders and governments throughout the world must come together to develop a plan to implement mitigation strategies and a response mechanism for future pandemic events.

Powering Your Business With Insights

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