The cyber incident category has risen to become the top risk in South Africa this year, according to the latest business risk barometer published byAllianz Global Corporate & Specialty (AGCS). It displaces business interruption, which was ranked as the biggest risk in 2019.
Several members of emergency committee convened by the WHO director-general to deal with the outbreak of novel coronavirus 2019 (called 2019-nCoV) in China have considered that it is still too early to declare a Public Health Emergency of International Concern (PHEIC), given its restrictive and binary nature.
China's economic stabilisation efforts could be at risk if the authorities fail to contain the outbreak of a new coronavirus, economists have warned.
The final version of the regulation on financial holding companies is expected to be launched soon, after the Lunar New Year holidays, that is expected to reshape the structure and change the ecosystem of the Chinese financial sector, central bank officials say.
Political risks and violence have shot to the top of the risk barometer for Hong Kong this year, displacing cyber incidents, according to a report by Allianz Global Corporate & Specialty (AGCS). In 2019, political risks and violence did not even rank among the top 10 risks in the territory.
A number of local insurance companies have in recent days announced proposed mergers among themselves or the reduction of capital to write off accumulated losses.
Earlier this week, bushfire-ravaged Australia was struck by yet another Nat CAT - hailstorms - which resulted in estimated losses of at least A$320m ($218.9m) and over 20,000 insurance claims according to the Insurance Council of Australia (ICA).
Allianz Global Corporate & Specialty (AGCS) has published its 2020 business risk barometer, ranking the risks that businesses around the world, including Turkey, see to be the biggest to their operations over the next 12 months.
For the third consecutive year, Business Interruption (30% of responses) ranks as the most important business risk for Chinese companies in the ninth Allianz Risk Barometer 2020. Natural catastrophes remain at (#2 with 26% of responses) while rounding up the top three is cyber incidents and market developments tied at the third spot (24% of responses.) The annual survey on global business risks from Allianz Global Corporate & Specialty (AGCS) incorporates the views of a record 2,718 experts in over 100 countries including CEOs, risk managers, brokers and insurance experts.
The Philippines maintained its second-highest alert for Taal on Sunday (19 January) as the deadly volcano continued to generate weak explosions and earthquakes a week after it started emitting ash and steam.