Risk Sharing Mechanisms To Mitigate The Financial Consequences Of Pandemic Risk: Economic And Social Insurance Solutions For The UK

疫情导致英国企业业务中断，导致前所未有的广泛全球经济损失，保险业无法完全消化。然而，企业不太可能在没有获得足够BI保险的情况下获得交易信贷。随着政府介入保护企业，纳税人的负担呈指数级上升。这项研究将开发一种新的风险分担机制，以有效地分担英国企业，保险公司和政府之间的大流行BI风险。我们将进行行动研究;我们与合作伙伴一起定义问题的方法，采取行动，并在未来的学习中嵌入行动。我们与英国企业、保险业和政府利益相关者建立了合作伙伴关系，以制定BI风险分担机制。我们将评估和建立在保险公司产生的短期锁定后产品的基础上，并与所有利益相关者一起开发新的解决方案。这将有助于提供可持续的长期治理和资金解决方案，以支持英国业务免受当前和未来疫情的干扰。我们的研究团队拥有完善的装备，因为我们已经研究了全球范围内的灾难性灾害风险分担机制，我们的研究结果影响了政策和实践。我们的研究过程和政策建议将（i）将流行性BI风险分为核心（必须）和额外（现成的）封面元素;（ii）确定谁（商业、保险或政府）应采取哪些要素;（iii）提出一个公私治理和融资解决方案，结合不同的战略应对措施，在英国企业中共享BI风险要素，保险业和政府利益相关者。

The pandemic is causing business interruption (BI) across UK businesses, resulting in unprecedently widespread and global economic losses that are too large to be absorbed in full by the insurance industry. Yet, businesses are unlikely to obtain credit for trading without access to adequate BI insurance. As the government steps in to protect businesses, the burden for taxpayers is rising exponentially. This study will develop a novel risk-sharing mechanism to effectively share pandemic BI risk between UK businesses, insurers and government. We will conduct action research; a method where we work with partners to define the problem, act upon it, and embed actions in future learning. We have partnerships agreed with UK business, insurance industry and government stakeholders to develop a BI risk-sharing mechanism. We will evaluate and build upon short-term post-lockdown products being generated by insurers and develop new solutions with this full range of stakeholders. This will enable delivery of a sustainable longer-term governance and funding solution for supporting UK business against interruption from current and future pandemic. Our research team is perfectly equipped as we have studied risk-sharing mechanisms globally for catastrophic disasters, with our results influencing policy and practice.Our research process and policy recommendations will (i) segment pandemic BI risk into core (must-have) and additional (good-to-have) cover elements; (ii) identify who (business, insurance, or Government) should take which elements; (iii) propose a public-private governance and funding solution that combines different strategic responses to sharing BI risk elements across UK businesses, insurance industry and government stakeholders.