General Insurance Article - Geopolitical risk is top concern for Risk Managers


Willis Towers Watson has launched a Geopolitical Risk Report – “Understanding the external threats to an organisation” in conjunction with the risk association, Airmic, at its annual conference.

 More than any other megatrend, Airmic members identified geopolitical tensions as becoming harder, or significantly harder, to manage over the next three years. Geopolitical risk – risks emanating from the interaction between geography, policy and the economy – are at the forefront of global risks facing today’s businesses. The Willis Towers Watson report helps risk managers to break down the risks, understand their interconnectivity and develop the most effective response.

 Alastair Swift, head of corporate risk and broking, GB “With geopolitical uncertainty such as Brexit, the US / China trade tensions and now growing concerns over Iran dominating news headlines around the world, there is an expectation that things could get worse before they get better. Geopolitical risk is clearly top of mind in the boardroom. At Willis Towers Watson we have established an integrated geopolitical solution which can be tailored for clients to help risk managers navigate through the disruption caused by geopolitical issues. This report is designed to help clients understand how to mitigate these risks.”

 Julia Graham, deputy CEO and technical director at Airmic, added: “Our member survey highlights that geopolitical risks are getting harder to understand and manage. Risk managers can play an integral role in bringing together key functions across the business and supporting their board navigate the uncertain global landscape. This report will help them start to break down the risks, understand their interconnectivity, and put into action the most effective response.”

 The report has been launched at the annual Airmic conference in Harrogate and a link to the report can be found here (awaiting). Willis Towers Watson are also hosting a geopolitical workshop to help risk managers understand how to understand, prevent, protect and respond to geopolitical issues including sustainability and environmental issues as well as supply chain and business disruption issues.

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