Allianz says that anger over growing social inequality and the cost-of-living, foundering faith in governments and institutions and increasingly polarized politics, together with a rise in activism and environmental concerns, may cause more civil unrest around the world.
The new report from insurer Allianz Global Corporate & Specialty (AGCS) looks at the heightened SRCC risk environment. It states that businesses need to remain vigilant about the different threats such activity can pose. In addition to buildings or assets suffering costly material damage, operations can be severely disrupted, resulting in significant loss of income.
Last year Lloyd’s of London, plus the surrounding area, was the target of repeated vandalism by coal and oil activists keen on raising awareness and attracting more funding for their protests. XR, Just Stop Oil and Insulate Britain also blocked many roads causing supplier problems and risking lives of those depending on the emergency services. Much of the UK can expect more activism during the education system holidays this year from Easter to early September, as it frees up both students and staff alike to pursue their own grievances when the weather is generally warmer.
As all major insurance brands in the UK are going along with bans on covering coal mining or new oil and gas projects, the activist heat is lower of course. So long as insurers continue to only offer coverage on approved mining, like lithium, cobalt or copper for the EV infrastructure that activists crave, then things should remain calm at most insurer and broker offices. That said other activists are always looking for offence on gender, Brexit, sexual preferences or religious issues.
But identity politics and woke arguments fuelled by globalist organisations and a click-hungry media aren’t just a UK thing. It’s worldwide.
“Incidents of strikes, riots and civil commotion have not only increased in recent years, they are also becoming more intense and catastrophic. These types of events are making our era one of uncertainty,” says Srdjan Todorovic, Head of Political Violence and Hostile Environment Solutions at AGCS.
“We have seen multibillion-dollar loss events in the US, Chile, and Colombia. The threat is changing, and although many of the reasons for it are universal – whether economic, political, or environmental – it can play out differently in different regions, with various levels of violence and disruption. Operational and security management within organizations should view the current climate as a catalyst for evaluating best practices and policies around preparing locations and employees for potential civil unrest and building resilience.”
Download Outlook: Strikes, riots and civil commotion – a test of business resilience
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