The Pandemic Re Steering Committee, launched to propose an industry response to both the UK Government and the country for future pandemics, has established a Project Committee and six working groups.
The newly formed Project Committee will be led by Michael Dawson of Nuclear Insurance as Chair, who will also be expected to liaise with the Steering Group, led by Convex’s Stephen Catlin.
The Steering Group was announced towards the end of April. Working closely with Pool Re, the group’s primary objective is to propose an industry response to future pandemics in light of the significant disruption and challenges caused by the COVID-19 pandemic.
The six working groups established are as follows: Customer Engagement and Distribution, Chair – Julie Page (CEO Aon UK), Deputy Chair – Chris Lay (CEO Marsh UK & Ireland); Technical Insurance, Chair – Steve Coates (CUO Pool Re); Modelling and Data, Chair – Paul Jardine (Chairman of Asta and Chaucer); Scheme Structure/Operating Models, Chair – Michael Dawson (Nuclear Insurance); Pandemic Preparedness and Mitigation, Chair – William Marcoux (Senior Corporate Lawyer); Legal, Regulatory and Government Affairs, Chair – Amber Rudd (Former Senior Politician).
In addition to these Working Group leaders, the Project Committee will include Martin Hattrell, formerly senior corporate lawyer at Slaughter and May. The Pandemic Re Steering Group states that the new working groups are being populated by a balanced and diverse group of industry experts, with each unit having a significant workstream to undertake.
More than 50 representatives from brokers, insurers, reinsurers, management consultants, data modellers, the medical profession and academia have now been allocated to work streams, while a further 65 volunteers have also come forward. Furthermore, the Corporation of Lloyd’s has agreed to provide resources for two of the work streams.
It’s also been revealed that Jon Dye, Chairman of ABI and CEO of Allianz Insurance, has agreed to join the Steering Group.
Chairman Stephen Catlin, said: “The Steering Committee has made considerable progress by identifying working groups and business leaders to direct them as well as helping to determine the detailed activities for each work stream. I would like to thank all these volunteers for giving their time to this project.”
Dawson added: “We have a significant task ahead although we have received enormous levels of industry support. The insurance industry is collaborative by nature and with this highly experienced group, we hope to be able to deliver a structure in a relatively short time frame.”
