Whether the H1N1 virus has run its course is unknown, but the fact is while many organizations have taken precautions, others are still unprepared for a pandemic event in what turned out to be the top risk management story of the year.

In a recent status report on the pandemic, Dr. Keiji Fukuda, special adviser to the director-general on pandemic influenza for the World Health Organization, reported from London that "it is fair to say we still haven't fully gone through the pandemic and that it is possible there could be unexpected events which occur as we continue to go through it."

On a positive note, he added, "it is quite possible to have a pandemic on the milder side, and if we are experiencing that, and if the number of serious cases is kept down, this is again something for which we should all be thankful."

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