US-China trade war and changing world order top business risks in 2019: Control Risks

US-China trade war and changing world order top business risks in 2019: Control Risks

US-China trade war and changing world order top business risks in 2019: Control Risks

There will be little time for multinationals to mourn the end of the post-war liberal consensus that brought about globalisation, as the developing US-China trade war, and the story it foretells about a new world order, becomes the defining geopolitical risk in 2019, according to Control Risks…

Cyber tops risk ranking in Europe and North America: WEF report

Cyber tops risk ranking in Europe and North America: WEF report

Cyber tops risk ranking in Europe and North America: WEF report

Cyber security is the top threat facing European businesses in 2018, followed by asset bubble and failure of national governance, according to a new report and survey from the World Economic Forum (WEF). Globally, cyberattack recorded a rise from eighth position to fifth place in 2018, but of the 19 countries where businesses ranked cyberattack as their number one risk over the next 10 years, 12 were in Europe…

Political violence insurance slow to take off in Zimbabwe despite protests

Political violence insurance slow to take off in Zimbabwe despite protests

Political violence insurance slow to take off in Zimbabwe despite protests

Persuading firms to buy political risk insurance in Zimbabwe has proved challenging, according to one leading insurer. Alice Shumba, executive director – operations at FBC Reinsurance, said: “We have been championing political violence insurance but there were no takers.” She said she was not sure whether it was a case of insureds and risk managers not fully understanding how the…

Political risks increase across Africa

Political risks increase across Africa

Political risks increase across Africa

Political risk is mostly increasing across Africa, according to the latest report from Gallaghers. In its quarterly outlook, it highlights seven Sub Saharan African countries where the threat of political risks is on the increase, compared to just three countries where the risk is declining. The riskier countries in July (compared to January) include Burkino Faso, Ivory Coast, Democratic Republic…

Aon, Chubb and Lloyd’s team up for $500m global terrorism policy

Aon, Chubb and Lloyd’s team up for $500m global terrorism policy

Aon, Chubb and Lloyd’s team up for $500m global terrorism policy

Aon, Chubb and Lloyd’s have collaborated to bring a new terrorism and political violence insurance product to multinational buyers. The companies said the new Platinum policy offers buyers “unprecedented” limits of up to $500m per policy on standalone terrorism coverage. Insureds can also add liability, non-damage business interruption and cyber cover. Aon said the policy will provide globally-admitted cover using…

GDP at risk from geopolitical and security threats in leading cities up 16%

GDP at risk from geopolitical and security threats in leading cities up 16%

GDP at risk from geopolitical and security threats in leading cities up 16%

Annual GDP under threat from geopolitical and security risks to the world’s largest cities rose by 16% in the past year, according to research by the Centre for Risk Studies at the Cambridge Judge Business School. Its 2018 Global Risk Index, upon which the Lloyd’s City Risk Index published this week is based, the centre finds that interstate conflict, which…

Aon’s 2018 maps show political violence and risk on the rise

Aon’s 2018 maps show political violence and risk on the rise

Aon’s 2018 maps show political violence and risk on the rise

Political violence risk has increased worldwide for the third year in a row, while broader political risk is also up, according to analysis by Aon. The broker’s newly released 2018 political risk, terrorism and political violence risk maps also suggest that the global threat posed by Islamic State (IS) has peaked, with its reach likely to fall in 2018. Political…

European commercial rates fall despite first global increase for five years: Marsh

European commercial rates fall despite first global increase for five years: Marsh

European commercial rates fall despite first global increase for five years: Marsh

Global commercial insurance rates rose for the first time in five years during the last quarter of 2017, almost exclusively due to a rise in property premiums, according to Marsh’s Global Insurance Market Index. But while rates were up 0.9% in the UK, they fell by 1.1% on average in continental Europe despite the pace of decline slowing. Marsh said…

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