The technology sector is exposed to greater political risk than ever before and more firms are seeking political risk insurance, as the shift towards economic nationalism accelerates amid the COVID-19 pandemic.
A trio of Covid-19 related risks ranks at the top of Allianz Risk Barometer 2021, reflecting potential disruption and loss scenarios companies are facing in the wake of the coronavirus pandemic. Business interruption (#1 with 41% responses) and Pandemic outbreak (#2 with 40%) are this year's top global business risks with Cyber incidents (#3 with 40%) ranking a close third.
Asia Pacific countries not only managed the pandemic better than the western world in 2020, they are also doing better in terms of political risks according to the latest edition of Aon's Political Risk quarterly.
For countries in Middle East and North Africa (MENA), three key issues exist on the political risk landscape: US/Iran relations under a Biden administration; Saudi Arabia's role in the region and dealing with the economic fallout of COVID-19, according to the January 2021 edition of Aon's Political Risk quarterly.
Saudi Arabia and Qatar have re-opened their airspace, sea and land borders in the first step toward ending a years-long diplomatic dispute.
Jeddah headquartered Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), in coordination with multilateral development banks (MDBs), has published a study analysing the current state of the political risk and credit insurance market for equity investments and Medium and Long-Term (MLT) debt investments and other insurance solutions.
The global economic landscape will continue to evolve towards a tripolar system with the US, China and the European Union as its pillars, a result of both a hardening of attitudes during COVID-19 and a compounding of existing trends, according to a new report from Moody's Investors Service. This shift poses widespread ramifications and negative credit effects across countries, sectors and industries.
A record 78% of risk managers now purchase some level of cyber insurance - compared to only 34% in 2011.
Insurance firms in Nigeria are readying for potential claims, following the widespread looting and destruction of properties, vehicles, and other assets across the country on 21 October.
Unemployment is the main concern for business executives globally, followed by infectious diseases that jumped 28 spots to emerge as the second-most recurring risk, according to the World Economic Forum's (WEF) interactive map on 'Regional Risks for Doing Business 2020'.