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Sep 2021

Global Risk Review

Cyber criminals target remote workers, critical infrastructure and corner stores

The share of cyber attack insurance claims surged by 50% in the first half of 2021 as compared to the first half of 2020 according to a report by US cyber insurer Coalition.

UK: Deteriorating mental health and cyber security are top people risks

The rapid changes brought about in the working conditions of employees due to the pandemic have exposed gaps in the ability of organisations to respond to risks associated with their workforces.

US: Agriculture insurance claims surge due to climate change

Global warming has contributed substantially to rising crop insurance losses in the US according to a new research study by a team of climate scientists from Stanford University.

Millions more at risk of flooding

There has been an increase of 20-24% in the proportion of the global population exposed to floods since the year 2000 according to a new scientific study. The new data is 10 times higher than previous estimates.

Crop insurance and unintended consequences

Crop insurance is a disincentive for farmers to adopt climate change mitigation measures on their croplands according to a new research study by North Carolina State University (NC State University).

Coal industry being hauled over the coals

After major insurers and reinsurers have refused to cover any new coal projects, global coal companies are considering setting up a mutual insurance company to cover their mining projects and other operations. They propose to pool their funds to set up the proposed mutual insurer.

The cost of phishing attacks triples between 2018 to 2021

Phishing attacks and the costs they inflict on the victim organisations have increased significantly according to the 2021 Cost of Phishing Study.

Survey examines effect of pandemic on commercial insurance

Adoption of digital technology has increased among the insurers as a result of the pandemic according to a new research published by the Italian InsurTech Association (IIA).