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AGCS releases Global Risk Dialogue, Autumn 2014 Issue

  • Businesses will need to place increasing emphasis on reviewing pre-loss and post-loss risk management in order to mitigate rising losses from weather-related catastrophes.

  • Fire is the second top cause of loss for companies with the impact of the disruption caused outweighing that of the damage.

  • 70% to 80% of insurance claims on offshore wind farms relate to subsea cable damage.

The impact of an upturn in extreme weather is felt keenly on the balance sheet. New research shows fire is the second top cause of loss for companies with the impact of the subsequent disruption often outweighing that of the damage. Underneath the sea the drive for more renewable energy can pose problems for vital infrastructure. Up in the sky the aviation sector faces a number of challenges in the aftermath of flight MH370.

The Autumn issue of AGCS’s Global Risk Dialogue magazine explores some of the unique risk management issues encountered managing “the four elements” – earth, fire, water and air.

And as it reveals, in today’s complex loss environment businesses need to place increasing emphasis on reviewing pre-loss and post-loss risk mitigation.

Selected articles from the latest issue of Global Risk Dialogue:

Earth: Climate change – mitigating the impact of increasing weather-related losses

Volatile weather activity is increasing and the impact is felt keenly on the balance sheet. If natural catastrophe risk management procedures are not regularly reviewed the magnitude of such losses can increase significantly.

Fire: Disaster recovery

Fire is the second top cause of loss for companies, according to insurance claims analysis with the impact of the subsequent disruption often outweighing that of the damage. What lessons can be learned from a risk management perspective…

Water: Subsea cables

Around 70% to 80% of insurance pay-outs for wind farms relate to cable damage. And as the drive for more wind capacity increases, so does the possibility of more incidents of damage…

Air: Aviation safety

The disappearance of the Malaysia Airlines flight MH370 earlier this year ignited a discussion in the aviation community regarding the tracking of aircraft outside of normal radar range…

3D printing

Imagine being miles out at sea on an oil rig or even in space, and in urgent need of a spare part. In the future you’ll be able to print the solution. However, such innovative technology brings a number of risk and liability challenges…

Cyber attacks

Many of today’s cyber criminals have their sights set on money. And they essentially take three approaches to achieving their goal…

 

To view the full issue of Global Risk Dialogue in one of three languages, see below:

> English
> French
> German

 

For more on Global Risk Dialogue and our expert content, visit our Insights page.