Insurance
What measures do you have in place when the next pandemic hits?
By Mark Blair, executive director event insurance experts Inevexco
ecent outbreaks around
R the world are once again highlighting how quickly infectious diseases can become major international concerns. Over the past few months alone, there have been cases of meningitis in Kent( UK), the Andes hantavirus outbreak which was linked to a cruise ship, continued growth of Avian Flu in the United States, and an increasingly worrying Ebola outbreak in the Democratic Republic of Congo.
The UK Government Risk Register identifies a future pandemic as the most likely and catastrophic risk to the UK in the next five years *. While recent outbreaks have remained relatively contained, they demonstrate how rapidly viruses can spread through travel, close-contact environments and global supply chains.
Medical experts continue to monitor Avian Flu closely due to concerns around the virus adapting further to humans, while other diseases such as MERS, Nipah Virus and Mpox may continue to present potential epidemic and pandemic threats. In 2023, experts predicted there is a 28 % chance that we will have another outbreak to the same seriousness or worse in the next 10 years **.
Since the Covid-19 outbreak, many organisations, including venues and suppliers, have tightened up their terms and conditions to prevent any refunds being offered in the event of a future pandemic. Insurance companies have also done the same, to ensure there is no ambiguity around policy wordings which resulted in a lot of legal action and bad feeling in 2020.
The lack of insurance availability was widely reported during the
Above: Mark Blair
“ Experts have predicted there is a 28 % chance that we will have another outbreak to the same seriousness or worse in the next 10 years”
Covid-19 outbreak but one organiser, Hyve, had the foresight to purchase the cover and benefitted with insurance payouts totalling over £ 100m($ 134.8m).
One of the major lessons from Covid-19 was the financial impact prolonged disruption can have on businesses and organisations. However, with interest rates significantly higher than they were during the pandemic, many believe future government financial support schemes may be far more limited.
As a result, many organisations are now reviewing what protection is available while specialist epidemic and pandemic insurance cover remains accessible. Inevexco has seen a significant increase in enquiries in recent weeks, with premiums currently starting from approximately £ 5,000 plus IPT, subject to underwriting criteria.
The policy is dependent on three triggers being hit in order for a full payout of the limit being made within 30 days of the claim. This allows the cashflow of the organisation to remain as positive as possible, ensuring key decisions can be made without the worry of spending time justifying a claim.
The main trigger is when the World Health Organisation declares a PHEIC( Public Health Emergency of International Concern) and a civil restriction( not necessarily a lockdown). This is likely to result in loss of revenue and / or additional expenses to keep the business trading, to minimise loss of jobs and company profitability. EW
n To discuss any of the above in more detail, reach out to mark. blair @ inevexco. co. uk
* National Risk Register 2025, GOV. UK ** 28 % chance of coronavirus-like pandemic hitting world in next decade | World News- Business Standard Inevexco Limited is a wholly owned subsidiary of AssuredPartners International Limited.
54 Issue 5 2026 www. exhibitionworld. co. uk