Although governments could protect against the economic devastation of future pandemics by requiring businesses to insure against pandemic-related risks, insurers do not currently offer that insurance. Even given sufficient actuarial data to set underwriting standards and rate tables, insurers are concerned that they lack sufficient capacity, as an industry, to cover pandemic-related risks, which are likely to occur worldwide and to be highly correlated. This Policy Brief examines how risk securitization could help insure those risks by utilizing the “deep pockets” of the global capital markets, which have a far greater risk-absorbing capacity than the global insurance markets.