International SOS will provide health advisory services to policyholders of Munich Re’s epidemic and pandemic policies.
Munich Re was one of the few (re)insurers marketing a pandemic parametric policy prior to the Covid-19 crisis, and has specifically targeted multinational organisations with captive insurance companies for the product.
Leigh Hall, senior originator at Munich Re Markets, discussed the reinsurer’s pandemic policy on the Global Captive Podcast last year.
The latest development in Munich Re’s pandemic offering is to partner with International SOS so policyholders have access to the health and security company’s pandemic portal, an online repository of the latest health advice relating to pandemics, and real-time one-on-one access to International SOS’ health consultants.
“We are delighted to have partnered with Munich Re on this combined offering for their policyholders,” said Franck Baron, group deputy director of risk management at International SOS.
“The solution enhances Munich Re’s pandemic policy, supports captives on a topic for which extensive support is often sought. This next step in our relationship with Munich Re will help protect workforces and, in turn, organisational resilience.
“International SOS is the market leader when it comes to protecting employees and this marks another step forward in our journey.”
Accessing the International SOS service is not dependent on a pandemic being declared by the World Health Organization (WHO) and “can be called upon at any time” according to the companies.
“I have great pleasure in announcing our new partnership with International SOS,” said Mari-Lizette Malherbe, member of the Munich Re board of management.
“The collaboration brings together the essential components of pandemic resilience; financial protection and access to health expertise to minimise a pandemic’s impact and protect workforces.
“Climate change and population shifts are making another pandemic more likely, therefore there is a need to create more resilient organisations. This new integrated pandemic risk management solution equips the insured to confidently navigate the next pandemic crisis.”