The coronavirus (COVID‐19) outbreak is a rapidly evolving situation that presents both health and business risks on a global level. Risk Strategies is monitoring developments worldwide and our team of risk advisors is working diligently to continue to help you prepare contingency plans, understand coverage, and keep your workforce safe as the situation unfolds.
The health and safety of our employees and clients is our priority. We have implemented policies including travel restrictions, health monitoring and preventative measures at work to help prevent the spread of illness. We strongly encourage all clients to adhere to the Centers for Disease Control’s recommendations.
Already, we’ve seen that the magnitude of the outbreak has impacted organizations in the U.S. and abroad in terms of business continuity, supply chain disruption and potential losses. We are prepared to help you assess the physical and non-physical impact your business faces and will analyze existing insurance policies to determine if losses are covered.
Our team will work with you to minimize your physical, financial and reputational losses due to external events by identifying the key areas of potential risk. We will also work with your key stakeholders to establish a Business Continuity Plan (BCP) which will act as your guide through the recovery phase. If one is in place already, we will help you assess your BCP to ensure you have processes and procedures in place to guide you through a potential event. Additionally, we are monitoring how employee benefits insurers are responding to the situation.
With many organizations instituting travel restrictions, and with many employees working remotely, our brokers will continue to be available through normal communication channels to serve you. Risk Strategies is currently using additional secured channels to communicate with our employees outside of email, and we recommend our clients do the same. This can be as simple as phone trees or can involve one of the more advanced mass communications tools available on the market.
To ensure that our employees are in the best position to navigate risk issues arising from COVID-19 for our clients, Risk Strategies has created a Response Team, comprised of company leaders. This team touches base daily to discuss the latest developments as well as any changes that need to be made to current work practices so that we can continue to deliver exceptional service to our clients.
Our goal is to continue to provide you with valuable insight and actionable advice to protect your business. We appreciate your trust in us as we continue to respond to this fluid situation. As always, we are available to answer your questions. Please contact your Risk Strategies’ broker directly.
Risk Strategies encourages the following measures to help prevent the spread of illness:
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Have other questions or concerns? Get in touch with us: COVID19@risk-strategies.com
The contents of this article are for general informational purposes only and Risk Strategies Company makes no representation or warranty of any kind, express or implied, regarding the accuracy or completeness of any information contained herein. Any recommendations contained herein are intended to provide insight based on currently available information for consideration and should be vetted against applicable legal and business needs before application to a specific client.