The rise in violent acts by Islamic extremists is a major factor behind recent news from UK insurance giant
Aon.
In its latest terrorism and political violence risk map, Aon found that it has become less safe for 14 countries than it has been, including Canada, Belgium, France and Denmark.
Other countries were identified as being more safe than they were in 2014, including seven countries in South America.
The highest risk area with the most countries at high risk of terrorism and political violence is sub-Saharan Africa.
One global insurance exec said the “data highlights that terrorism and geopolitical uncertainty are risks that business cannot ignore – and they are as relevant to developed economies as to emerging markets.”
With the risk of terrorism and unrest being an increasing factor in many countries in the world, international businesses are having to rethink their insurance strategies.
Though the numbers assess risk environments around the world, the data concerning Canada’s increased risk should catch the attention of the industry. Increased risk, the data implies, means increased opportunities for tailoring plans for business who want to protect themselves more comprehensively.
Aon said their data is just a matter of numbers – insurance providers and risk managers can use the data to stay up-to-date with changes in risk ratings and investment-impacting exposures.
Paying attention to global data can also help Canadian firms analyse and rank risk trends in Canada, North America and beyond.
Click here to view Aon’s risk map.
