The Insurance Council of Australia (ICA) has cancelled next week’s Annual Forum as industry events and travel plans are disrupted by the worsening coronavirus outbreak.

The Australasian Institute of Chartered Loss Adjusters (AICLA) is also not going ahead with this year’s Asian Claims Convention, scheduled to be held in Japan next month. The organising committee says it will be postponed to March next year at the same venue in Kyoto.

The Australian and New Zealand Institute of Insurance and Finance which has strong ties to Asia, has introduced restrictions on travel to the region and postponed events in Hong Kong, while a number of insurers are cutting back on non-essential employee travel.

ICA spokesman Campbell Fuller says the decision to cancel the forum was made last week after concerns were expressed by delegates. All delegate tickets will be fully refunded.

“Many companies are putting in place travel restrictions, and restrictions on attending large public events, so under those circumstances the Insurance Council, as the event organiser, has a responsibility to consider the health of its staff, guests and speakers at these events,” he told insuranceNEWS.com.au.

ICA has also cancelled the annual dinner scheduled for May 7.

Aon Australia said last week that it had asked colleagues to limit non-essential travel while Zurich says employees globally are only permitted international travel under “very special circumstances” requiring regional CEO approval.

Insurers say they are monitoring advice regarding travel as the situation changes.

The Risk Management Institute of Australasia is hosting one-day workshops to help businesses minimise the operational, financial and reputational risks the virus poses.

“The crisis around the coronavirus has clearly moved to the next level, with the Australian Government expecting the virus to move to a pandemic phase and stepping up measures to prepare authorities for what is likely to be a sustained period of instability and disruption.”

The sessions will be held in Sydney on March 10, Melbourne on March 13 and Brisbane on March 17. Click here for more information.