JLT Says Companies Need To Prepare For Swine Flu

NU Online News Service, May 29, 8:29 a.m. EDT

London-based insurance broker Jardine Lloyd Thompson Ltd. is advising company directors to take steps to mitigate risk of exposure to the current swine flu pandemic and check their directors and officers liability.

"Directors may be focused on the idea that the swine flu pandemic could impact their employee liability and general liability insurance but a lack of preparation may leave them exposed in terms of their D&O [directors and officers liability] cover," said Michael Lea, head of D&O Liability for JLT.

"Now is the time for them to consider plans and activities more carefully particularly with recent data from the Chartered Management Institute reporting in March that 52 percent of companies in the United Kingdom still do not have plans in place to cope with business disruption," advised Mr. Lea.

JLT said it has launched a six point check list titled "Prepare Now to Manage D&O Exposure to a Pandemic" to help companies manage and mitigate exposure in the most effective way.

Among the six preparation points are business continuity planning, adequate insurance coverage, protection of employees and communication.

"Companies should be making sure that their D&O liability, employee liability and general liability brokers are all working together at this crucial time checking they have the right cover across their business that is working in the most cohesive and effective way," Mr. Lea said.

The complete report is available at www.jltgroup.com/insurance-broker.