Pandemic Risk Expert Examines Longer-Term Impacts Of COVID-19 (Insurance Business)

Pandemic Risk Expert Examines Longer-Term Impacts Of COVID-19

Monday, June 8th, 2020 Risk Management

In times of crisis, human nature dictates that we focus on the present with microscopic vision. As COVID-19 wreaks havoc worldwide, businesses have entered survival mode.

They’re focused on the short-term impacts of the pandemic, with their top concerns being whether they’ll be able to meet payroll and pay next month’s rent.

Other medium- and longer-term impacts of the coronavirus pandemic are very much “tomorrow’s problem”.

While the immediate safety of employees and short-term business contingency are vitally important, businesses should not make the mistake of ignoring the potential longer-term impacts. Some risks associated with COVID-19 may not fully materialize or crystallize for years to come.

As the coronavirus crisis extends, there could be a domino effect where one risk triggers another in a cascading nature, according to Victor Meyer, chief operating officer at Supply Wisdom, and former vice-chairman of the World Economic Forum’s Global Agenda Councils for both Pandemic and Catastrophic Risk.


External References & Further Reading
https://www.insurancebusinessmag.com/us/news/breaking-news/pandemic-risk-expert-examines-longerterm-impacts-of-covid19-224563.aspx
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