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Prepare for the risks of novel coronavirus


Christopher Palm | Chief Risk Advisor | Institute for Risk Management South Africa (IRMSA) | mail me |


On 30 January 2020, the Director-General of the World Health Organisation (WHO) declared that the outbreak of the novel coronavirus (2019-nCoV) constitutes a Public Health Emergency of International Concern (PHEIC) and issued advice as Temporary Recommendations (TR) under the International Health Regulations (IHR).

Since then there has been an upsurge in the news cycle and a plethora of news, both trustworthy and fake.

What is a business leader or a risk manager to do?

Firstly, recognise and state the risk as it could materialise in your organisation.

For example, staff may become infected by the novel corona virus which could lead to the death of a number of staff caused by management complacency, ineffective preventative measures and the lack of a preparedness and response plan, which may lead to the mandatory suspension of business operations as the offices of are sealed by national health authorities and the military, as a containment measure to mitigate the spread of the virus.

Secondly, prepare as best you can. Realise that you will never have all the information and all the answers but strive to source the best available information on which to make decisions.

Call to action

The call to action from our Risk Intelligence Committee is as follows:

Resources to consider

A few resources for you to consider are referenced below:

Follow two trustworthy news sites – limit it to one local and one international site.


 

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