In 2007 the CRO Forum published a paper on “Influenza Pandemics” that provided a consolidated view of the potential impact of a Spanish Flu-like scenario on insurance undertakings. The authors also identified steps toward better preparedness. Fifteen years later, this paper aims to refresh the CRO Forum’s perspective on pandemics following the outbreak of Covid-19. The new paper covers the challenges that (re)insurers, and risk managers in particular, should address in preparing for another potential pandemic event, and analyses the perspective of users of internal models, given that since 2016 the Solvency II regime in the European Union allows the customisation of the methodologies for determining regulatory capital requirements.

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