Bermuda ramps up COVID-19 preparations
MS Amlin and Everest Re have issued statements to assure customers and other partners that they are well prepared for the challenges around COVID-19.
The two reinsurers have taken relatively similar steps, to date. Both have instructed staff to work from home, where possible, and are thoroughly cleaning their offices for those that remain in them.
Everest said: “We have worked with building management at all of our office locations to ensure that applicable government guidelines are being followed and appropriate cleaning and preventative disinfection procedures and visitor screening protocols are in place.”
Both MS Amlin and Everest Re have also imposed travel restrictions on their staff. MS Amlin said it would not send staff to any conferences or other large gatherings until further notice.
MS Amlin noted its business continuity plan ensures it will “remain flexible and responsive to threats and issues, no matter what form or path they take.” It said it had conducted extensive stress tests in its major hubs, to ensure the integrity of its technology, and that its operational effectiveness will not be compromised by large numbers of employees working from home.
“These tests have been successful and we are confident that we will be able to operate as close to ‘business as usual’ as possible, even for an extended period of time,” it said.
Meanwhile, Everest Re said, in accordance with its organisational resiliency programme (ORP), a team reporting directly to its executive management has been meeting daily to monitor the developments with the outbreak, to ensure it can respond rapidly.
ORP is an integrated framework designed to assess, mitigate, and respond to certain key operational risks to reduce the impact of unplanned business disruptions and protect critical processes, applications and services,” Everest said. It includes crisis management; business continuity plans to protect core functions like claims processing and payments, disaster recovery and emergency management.
MS Amlin, Everest Re, COVID-19