A pandemic: the world in a state of emergency
Whenever an infectious disease doesn’t just occur locally, but rather spreads across multiple countries and continents, this is called a ‘pandemic’. As a consequence, people fear for their health, governments go into crisis mode and companies urgently need a contingency plan.
Due to global networks of suppliers, producers and sales markets, there is hardly a company that is not affected by the consequences of a pandemic. Companies around the world are either shutting down completely, scaling down their production operations or asking their employees to work from home in a bid to slow the spread of the virus. The closure of national borders jeopardises supply chains, which can lead to business interruptions. Goods consignments remain stuck in ports, receivables are not paid and important events are cancelled. In short: the world is in a state of emergency, which can soon threaten livelihoods. We have put together a brief guide to insurance and risk management in times of crisis.
Learn more about the risks of a pandemic
Coronavirus – are damages insurable?
The outbreak of the coronavirus presents companies with enormous challenges. It is already becoming apparent that there will be major economic damage worldwide. Who is liable? And how can companies better arm themselves for the future?
Link: https://www.funk-gruppe.de/en/corporate-blog/insurance-management/coronavirus-and-its-implications/
Checklist of recommendations: contingency plan to download
Coronavirus requires companies to act quickly yet carefully. Our checklist covers all the important organisational and legal guidelines and serves as the basis for your contingency planning.
How secure is working from home?
The fight against coronavirus has caused many companies to close offices and branches. A large number of employees are currently working from home in order to maintain business operations. This situation poses new technical challenges for companies and employees.
Link: https://www.funk-gruppe.de/en/corporate-blog/insurance-management/how-secure-is-working-from-home/
Risks
Liability risks
The potential liability of companies varies depending on the industry or clientele. Nevertheless, all companies have one thing in common: even small mistakes can lead to severe losses.
Property damage and BI risks
While property insurance is a basic protection every company should have, the risk of business interruption is increasing steadily as well – especially for globally connected players.
Risks in M&A processes
The M&A market is booming: in a constantly changing market environment, transactions are the key to the success and future viability of companies. But their risks should not be underestimated.
Services
Funk China
Investing and operating outside of China becomes more and more essential for Chinese companies. The Funk China Division supports its Chinese clients in managing the risks, challenges and chances of worldwide outbound investments.
Insurance + risk management
Funk devises and implements holistic risk and insurance solutions for companies across all industries, sectors and countries. In doing so, our experts do not only secure your individual assets but also create genuine added value for your company.
Employee health + benefits
Employee benefits concepts are a sustainable component of a good corporate policy. Funk provides comprehensive, transparent advice with a view towards the long-term advantages for your company and your employees.
