Concerns about political unrest and terrorism continue to be high on the agenda for risk managers of multinational businesses. According to the 2017 Allianz Risk Barometer, these fears ranked eighth among the top corporate perils cited by risk consultants, underwriters, senior managers and claims experts. The most commonly cited concerns were acts of terrorism and sabotage (54%), impact on supply chain (42%), protectionism or government intervention (31%), sanctions (24%) and a state crisis (23%), such as Brexit or a breakdown of the eurozone.
The good news for insurance buyers is that terrorism and political violence policies are easily accessible. In the face of this new political climate, risk managers need to take advantage of the opportunity to protect their businesses before an unforeseen incident can occur.
Christof Bentele is the head of global crisis management with Allianz Global Corporate & Specialty.