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Opinion | Risk management in a world that is interwoven and unpredictable
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We should have foreseen the need to mitigate various risks posed by a viral outbreak, but let’s hope it’s still not too late to act No epidemiologist could have predicted yet another leap of a zoonotic virus from the animal world to humans.
But that such a thing could happen was predictable and, indeed, certain. We had SARS in 2003, avian flu in 2006, swine flu in 2009, and most recently, MERS in 2012.
Astonishingly, in a world more globalized than ever before, such a glaring recurring risk was left unattended. The business model for event insurance works if the risk is idiosyncratic and not universal in its incidence (motor vehicle insurance), or even for region-specific risk (crop failure) if the risk pool covers several regions.
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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