Analysis – Page 8
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Analysis
Felixstowe strike to impact $800m in trade
The 8-day strike will add to current supply chain woes, with Maersk warning of a ‘significant impact’
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Analysis
As wildfires rage, firms urged to prepare contingencies
Top business continuity and safety considerations include need for stand-fast alternatives and financial constraints
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Russia and China behind majority of state-sponsored cyber attacks
The private sector suffered from 37 state-sponsored cyberattacks so far in 2022 as hackers target companies for monetary gains
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Analysis
FM Global offers policyholders $300m resilience credit
The credit will be applied as a 5% premium offset against policies with renewals between 1 October 2022 and 30 September 2023
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Analysis
NHS hit by massive ransomware attack
The latest attack on the NHS 111 system has been confirmed to be a ransomware attack on a managed service provider
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Economic stresses drive social unrest in LatAm
Some countries have seen as much as a tripling in social unrest on the back of increasing inflation
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Gallagher buys crisis and risk management consultancy
AnotherDay provides crisis expertise across political risk/political violence, D&O and criminality, and cyber
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Analysis
Axa braces for Ukraine-Russia claims
Some of the insurer’s crisis management policies have been ‘triggered’, reveals group chief financial officer
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Russian gas cut off would backfire - Dragonfly
A short-term suspension is possible, but Russia is unlikely to risk losing a crucial revenue stream longer-term
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Europe counts cost of extreme heat, drought and wildfires
In many parts of Europe, human-caused climate change has resulted in annual average temperatures rising by more than 1.5°C - Munich Re
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Analysis
Lloyd’s, Aon examine long-term impacts of Ukraine conflict
Ability of businesses to diversify and ‘hedge’ portfolios and supply chains to reduce dependencies are key to minimising risk exposure
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Calls for solar industry to mitigate fire risk
With the number of PV installations dramatically increasing around the world, the threat of fire is growing
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European storms drive 1H catastrophe losses - Aon
First-half Severe Convective Storm (SCS) losses in Europe exceeded $5 billion for the second year in a row
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Russian gas cut-off would be uninsured - Fitch
The limited scope of BI insurance was highlighted when many firms were disrupted by pandemic-related restrictions
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Germany at severe risk of flood as temperatures rise
A quarter of the world’s power generation capacity and 26% of international port outflows are currently at risk of flooding, finds Marsh McLennan
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Analysis
Fire/explosion and nat cats remain top drivers of claim severity
Contingent BI claims spike due to broken supply chains, cyber claims remain elevated and inflation will add to claims severity, finds AGCS
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Supply disruption rises as Rhine levels fall
Water levels are at their lowest for the time of year since 2007, limiting the commodities that barges can carry
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The metaverse will support ‘shift from risk indemnity to risk mitigation’
Use of the metaverse for the insurance sector is “evolving at pace”, says Accenture’s global insurance lead
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Analysis
Food recalls back to pre-pandemic levels - RQA
Over 400 million units of recalled products were reported by the US FDA between January and June
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Preparing for another active hurricane season
Power and comms outages and supply chain disruptions should be among key business continuity considerations, says International SOS