Facebook Inc.’s annual developer conference scheduled for May 5 and 6 in California is the latest international conference to be canceled amid rising fears over the coronavirus outbreak.
However, upcoming insurance industry events organized by the Wholesale Specialty & Insurance Association and the Risk & Insurance Management Society Inc. will go ahead, organizers said.
WSIA and RIMS on Friday confirmed that their events are still planned, even as Reuters reported that Facebook Inc.’s annual developer conference in California, the Geneva Car Show, and the Barcelona Telecom Summit had been canceled.
“RIMS 2020 Annual Conference & Exhibition is happening. RIMS is certainly aware of the situation and we are monitoring it,” a spokesman for the New York-based organization said in an emailed response.
The annual gathering of risk and insurance professionals is scheduled to take place in Denver from May 3 through May 6 and draws more than 10,000 attendees from over 70 countries.
The Wholesale Specialty & Insurance Association said it was taking “additional precautions” in accordance with the Centers for Disease Control advice on containing the spread of COVID-19, including ensuring sufficient hand sanitizer and tissue packets are available to attendees. WSIA’s underwriting summit starts March 1 in Palm Desert, California.
COVID-19 is caused by a member of the coronavirus family that’s a close cousin to the SARS and MERS viruses that have caused outbreaks in the past.
“Understanding that the spread of this new virus is top of mind for many, the CDC recommends everyone follow these simple, standard prevention protocols: Wash your hands frequently and follow the CDC’s handwashing protocol,” WSIA said in a note sent out to attendees.
Concerns over the outbreak have led organizers to cancel major events around the world. The Geneva auto show was canceled after the Swiss government banned public and private events involving more than 1,000 people.
Insurers stand to lose billions of dollars if the Tokyo Olympics is canceled, according to a Reuters report.
While traditional property/casualty insurance policies have limited coverage for outbreaks and epidemics like the coronavirus, businesses should review their policies and be aware of claims, according to a presentation Wednesday by Marsh LLC.
The World Health Organization on Friday upgraded its global risk assessment of the coronavirus’ potential for spread and impact to “very high” from “high.”
The virus, which originated in China, has spread to an additional 49 countries, with more than 82,000 confirmed cases and a global death toll of 2,747.
According to the CDC website Friday, the U.S. has 15 confirmed cases of coronavirus and a further 47 cases where people with the virus have been repatriated to the United States.
The CDC on Wednesday reported a coronavirus case of unknown origin in northern California, which is potentially the first incident of the virus spreading within U.S. communities, Reuters reported.
California Governor Gavin Newsom said on Thursday that the state is monitoring more than 8,400 people for coronavirus symptoms after arrival on commercial flights, according to Reuters.
More insurance and risk management news on the coronavirus crisis here.
