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Feb 2023

Global Risk Review

Only 20% organisations equipped to handle supply chain disruptions

Globally, organisations plan to increase their supply chain investments by 17% to transform it over the next three years, according to a new research by Capgemini.

Disasters compounded and cascaded in 2022

APAC, the world’s most disaster-prone region, experienced major disasters in 2022 with floods being the deadliest accounting for 74.4% of disaster events in the region and 88.4% of total deaths globally.

Is it curtains down on globalisation?

Consumers now attach greater importance to factors such as local production, climate protection, and fair working conditions, forcing manufacturers to act, according to a new survey by Oliver Wyman and GFU Maschinenbau GmbH.

Semiconductor shortage is the top supply chain risk of 2023

One of the biggest supply chain risks of 2023 is the worsening of the global semiconductor shortage, according to a new survey.

Two out of three glaciers could be lost by 2100

With continued investment in fossil fuels, over 40% of the glacial mass will be gone and over 80% of glaciers by number could well disappear by 2100, according to new research by a team of Carnegie Mellon University in the US. At present world has around 215,000 glaciers.

Inflation insurance industry's biggest challenge in 2023

Over a third of insurance industry said inflation will be their biggest challenge in 2023. A new poll conducted by GlobalData revealed that inflation ranks several notches ahead of challenges like climate change, digitalisation, regulation, COVID-19 and geopolitics.

Japan to release radioactive water into sea

Japan will release more than a million tonnes of water into the sea this year from the destroyed Fukushima nuclear power plant.

Prioritise prevention and mitigation over disaster recovery

Every dollar spent on pre-disaster risk reductions saves between $6 and $13 in damages, however, 88% of disaster management funds are allocated to post-event response.

Eight major concerns insurers will face in 2023