Political Risk and Instability Top Managers' Concerns, New Clements Worldwide Global Risk Survey Shows
Political unrest is the number one concern among global risk managers at multinational organisations and non-governmental organisations (NGOs), according to a new survey by leading international insurance provider Clements Worldwide. The "Clements Worldwide Risk Index," released today (
Twenty-eight per cent of the risk managers who responded stated political unrest was their top concern, while 25 per cent cited kidnapping, and nearly 10 per cent cited terrorism. Twenty-one per cent of respondents had delayed plans to expand into new countries due to rising international risks.
"Such concern about political risks abroad confirms the need for companies to better assess their exposures worldwide," said
When it comes to terrorism, the Clements Worldwide Risk Index results confirm the concern recent events have raised among global decision-makers.
However, on the subject of readiness to respond against such potentially violent or catastrophic events, 21 per cent of respondents admitted being "not prepared at all' for a terrorist attack," while 11 per cent considered themselves "very prepared." Seventeen per cent said they were "very prepared' for the ramifications of a disease outbreak, while 10 per cent said they were "not prepared at all" for that threat.
Additionally, 21 per cent said they were "not prepared at all" for a cyber-attack. Conversely, in what could demonstrate appropriate planning against potential business disruptions, more than half of the respondents (57 per cent) reported increasing spending on international insurance, while 44 per cent reported increasing spending on risk management overall.
"As risks rise, so must investment in insurance to protect against these global risks," Francis added. "The Clements Worldwide Risk Index gives further insight into these risks that clients can utilize as they assess how to better protect their international staff and foreign-based business operations in an increasingly complex global landscape."
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Notes for editors
About the Clements Worldwide Risk Index
Clements Worldwide conducted an online survey among 4,000 executives responsible for global risk management in multinational organisations and non-governmental organisations (NGOs) from April to
About Clements Worldwide
Clements Worldwide is a leading insurance provider for expatriates and international organizations. Founded in 1947, Clements offers international car, property, term life, health, specialty and high-risk insurance in over 170 countries. With offices in
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