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A.M. BestTV: AIR Worldwide's Fullam: Zika One of Multiple Pandemic ThreatsIn this A.M.BestTV episode, Doug Fullam, manager, life and health modeling, AIR Worldwide, discusses the issues surrounding pandemics and other global health threats that include the Zika virus, respiratory illnesses and new types of flu. Click on http://www.ambest.com/v.asp?v=fullam716 to view the entire program. "Pandemics occur with a frequency of about 3% to 6% per year," said Fullam, adding that these are also high morbidity and mortality events. Fullam noted the difference between a pandemic and an epidemic, explaining that a pandemic is a global event (2009 H1N1), while an epidemic is typically concentrated in one area (2014 West Africa Ebola outbreak). Fullam also highlighted the potential economic impact of a pandemic, which can vary among different types of events. A major event, maybe another Spanish Flu, could account for trillions of dollars. A mini-pandemic or even an epidemic might involve billions of dollars. On average, estimated losses can range from approximately $400 billion to $700 billion, Fullam explained. Fullam believes the insurance implications of a pandemic depend on the type of sector that a company operates in, with mortality and morbidity as key components. Other drivers include medical expenses, as well as deaths, which would impact life insurance companies. He also sees the travel industry as being heavily affected by such occurrences. Recent episodes of A.M.BestTV include:
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