March 10, 2020
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:
- Be the steward of your own health and potential impact of any illness on others. If you are sick, stay home.
- If you have concern about potential exposure to illness in the workplace, notify your HR Business Partner as soon as possible.
- If you have been in contact with someone who is sick or have a family member at home who is sick, notify your office, practice or corporate function leader and your HR Business Partner before coming to work.
- Wash hands frequently with soap and water for at least 20 seconds. If soap and water are not available, use an alcohol-based hand sanitizer.
- Avoid touching your eyes, nose and mouth with your hands.
- Cover your cough or sneeze with a tissue, then throw the tissue in the trash.
- Clean and disinfect frequently touched objects and surfaces including desks, phones, keyboards and writing utensils with alcohol-based wipes.
Additional resource downloads
Protecting Workers from the Coronavirus
Insurance Considerations by Specialty Practice
Claims and loss control
Have other questions or concerns? Get in touch with us: COVID19@risk-strategies.com