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Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Dec 2021

Global Risk Review


Multinationals underestimate the social risks they are exposed to

Not enough global companies are giving the desired attention to the human rights risks they are exposed to, in countries where they have operations or in commercial hubs according to global risk and strategic consulting company Verisk Maplecroft.
 


Insurers face near-term $100bn-plus Nat CAT loss per year

Nat CAT losses are likely to cost the insurers an average of around $106bn annually in the short term. This compares with $75bn Nat CAT losses a year during the past decade.
 


Good progress to date on TCFD adoption

The number of companies reporting in line with recommendations from the Task Force on Climate-related Financial Disclosures (TCFD) increased more between 2019 and 2020 than in any other year.
 


APAC natural hazard risk 16x North America and Europe

APAC is four times more at risk of natural hazards than those in Africa and 16 times more than North America or Europe. The ‘riskscape’ arises not only from inherent natural, biological and environmental hazards of the region but also from socio-economic vulnerabilities and rapid urbanisation according to UN-ESCAP.
 


ESG framework launched to help SME customers

QBE Insurance has developed a tool to provide a risk management framework for customers to assess their environmental, social and governance (ESG) risk better.
 


Over 200m may face climate-induced internal migration risk by 2050

Climate change could force 216m people to migrate within their own countries by 2050 according to a new updated report Groundswell by the World Bank.
 


Lack of security controls put organisations at risk

Organisations continue to operate with limited visibility into user activity and sessions associated with web applications, despite the ever-present risk of insider threats and credential theft according to a new study by identity security firm CyberArk.
 


UK: Cyber budgets of enterprises shrank during the pandemic

While the outbreak of COVID-19 led to a shift of workspace and a rapid increase in cyber attacks across the world, the cyber budget of enterprises in UK actually came down.
 


US insurers see the need to adapt to ESG demands

Six in 10 US insurance companies agree that demand from stakeholders to consider environmental, social and governance (ESG) factors in their decision-making is growing.
 


Philippines: Climate-smart insurance for micro and SMEs

A new project to develop climate-smart insurance for micro, small and medium-sized enterprises (MSMEs) in the Philippines will be put in place with the support of Asian Development Bank (ADB). It will be administered through the Asia-Pacific Climate Finance Fund (ACliFF).