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The rise in geopolitical risks, such as interstate conflict, will have a direct impact on the re/insurance industry, according to findings of the World Economic Forum’s 2015 Global Risks report. Intelligent Insurer investigates.
Geopolitical risks are now more of a concern for global risk management than economic and systemic risks, according to the findings of the World Economic Forum’s (WEF) 2015 Global Risks report.
Surveying 900 participants and looking at 28 different types of risk within five categories—economic, environmental, societal, geopolitical and technological—interstate conflict is now the most likely risk to occur, while water crises are the top risk in terms of impact.
While new risks can and will bring opportunities to re/insurers, the impact of geopolitical risks can result in large scale losses.
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Geopolitical, Zurich, World Economic Forum, Risk