As businesses across all industries adapt to and respond to the ongoing financial challenges presented by COVID-19, a timely solution to accelerate our economic recovery is critical. Establishing a stable pandemic insurance market is an essential part of that solution.
This week, in a subcommittee hearing of the US House Committee on Financial Services, Marsh CEO John Doyle testified that Marsh believes it is time now to take action on a pandemic insurance solution. The bottom line is simple: We need a public-private partnership to help manage and build resilience to the financial risk of a pandemic. The insurance industry must collaborate with the government and policyholders to find a solution to better manage future pandemic risk.
At MMA, our primary role as an insurance broker and risk advisor is to advocate for our clients. As Congress considers pandemic risk insurance legislation, we will continue to promote a solution that best serves your needs.
You can watch a replay of this week’s hearing, read written testimony, and learn more about this issue. I also strongly urge you to contact your representatives in the House and Senate. Make your voice heard: Tell policymakers how a public-private insurance partnership can help bring a level of certainty to your business. Share what is at stake for you, your organization, your employees, and the economy.
We will continue to update you on the latest insurance information. Please visit MMA's COVID-19 Resource Page and Marsh’s Pandemic Risk Hub for more information. If you have any questions, please reach out to your local MMA service team.
On behalf of MMA, I hope you, your families, and employees remain safe and healthy through the upcoming holiday season.
Thank you for your business, and please stay safe and healthy.