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Actuaries Urge Need for Risk Management and Continuity Planning With H1N1 Pandemic
Date:6/12/2009

are bad. Be prepared to be flexible that customers might be cash strapped. Maintain relationships with multiple bank locations in case one is unavailable.
  • Redundancy: Use more than one supplier if possible. Think about short-term solutions if employees are unavailable because they or their family are sick.
  • Enterprise-wide Risk Management: Businesses should think about combinations of risks. A pandemic in combination with other emerging risks could create additional complexities.

  • "Aside from these considerations, planning and preparation are key," said Rudolph. "Scenario planning exercises are important to see where there are gaps in preparation, such as if the company closes the office and has employees work from home. Without testing and planning this could slow down computer servers, thus causing further business delays."

    An audio recording of clips from Rudolph's pandemic presentation is available on the SOA Newsroom at: http://www.soa.org/news-and-publications/newsroom/erm.

    About Actuaries

    Actuaries bring a complex future into focus by applying unique insight to risk and opportunity. Known for their comprehensive approach, actuaries enable smart, more confident decisions.

    About the Society of Actuaries

    The Society of Actuaries (SOA) is the largest professional organization dedicated to serving 20,000 actuarial members and the public in the United States and Canada. The SOA's vision is for actuaries to be the leading professionals in the measurement and management of financial
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    SOURCE The Society of Actuaries
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