The Pandemic Re Steering Group has established a project committee and six working groups to address various industry risks.
It has appointed Michael Dawson, the director of Nuclear Insurance, as the chair of the new project committee. He will work alongside the working group leaders and Martin Hattrell, a former senior corporate lawyer at Slaughter and May. The six working groups and their representatives are as follows:
- Customer engagement and distribution: Aon UK CEO Julie Page as the chair and Marsh UK & Ireland CEO Chris Lay as the deputy chair.
- Technical insurance: Pool Re CUO Steve Coates.
- Modelling and data: Asta and Chaucer chairman Paul Jardine.
- Scheme structure/operating models: Nuclear Insurance director Michael Dawson.
- Pandemic preparedness and mitigation: Senior corporate lawyer William Marcoux.
- Legal, regulatory, and government affairs: Former senior politician Amber Rudd.
Commenting on the establishment of the project committee, Dawson said: “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.”
Pandemic Re has also allocated over 50 representatives from insurers, reinsurers, insurance brokers, management consultants, data modellers, academia, and the medical profession to its work streams. Meanwhile, Lloyd’s has agreed to provide resources for two of the workstreams, and 65 professionals have volunteered to help the organisation.
Stephen Catlin, the chair of Pandemic Re, commented: “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.”