National insurance solutions provider James Allen Insurance has announced a comprehensive pandemic policy for business enterprises to protect themselves in the event of an outbreak.
The policy is designed to cover added out-of-pocket expenses, as well as lost revenue associated with the outbreak of disease.
The policy is backed Lloyd’s and other European-based insurers.
“Pandemic outbreaks are highly contagious viral infections, and their potential impact on the global economy can be devastating as is being seen today with the COVID-19 outbreak,” said Tim Craig, James Allen Insurance Chief Executive Officer.
“In addition, once a disease like COVID-19 reaches pandemic levels, vaccines are non-existent which makes them even more crippling to businesses and organizations across the globe. Unfortunately, no industry is safe from the effects of a pandemic outbreak.”
“Other policies cover aspects of a pandemic outbreak, but we saw an opportunity to create coverage for all aspects that could impact an organization,” added Craig.
“I encourage everyone to review their current policies and ensure they have the appropriate amount of coverage given the current climate with COVID-19. A vaccine is months away, so further disruption to the global economy seems inevitable.”