Increase in Pandemics over the next 5-10 Years
Wednesday, 06 22 2016, Category: Health, Country: World
Nearly three-fourths (70 percent) of life insurance underwriters expect the number and severity of epidemics and pandemics to increase over the next five to 10 years, according to a recent survey by Munich Re US Life, one of the world’s leading reinsurers.
Among the over 100 underwriters surveyed, 46 percent believe influenza (bird flu, swine flu, etc.) is the potential pandemic disease that carries the most risk for the insured population, followed by a currently unknown disease (25 percent), Zika virus (14 percent), Ebola virus (8 percent), and SARS (7 percent).
Of the life insurance companies represented, a majority (73 percent) take into account geographically localized risks in their medical underwriting process. However, only one-quarter of the life insurance companies polled currently have guidelines in place that take Zika virus into consideration, despite recent outbreaks across parts of Central and South America.
Source: Business Wire