January Risk Report

Summary of emerging risks and natural and man-made disasters affecting communities and businesses around the world.

2016 Risk Report

2016 Risk Recap – While here you see some highlighted risks, a complete report you can find on the Global Risks Report 2016 by the World Economic Forum.

Earthquakes and Environmental Refugees: Time for “Green” Engineering – analysis – Indonesia was struck by an earthquake in December of 2016 and left 103 people dead, 932 injured and 88,133 displaced from homes.

2017

Americas

1,000 structures destroyed in Chile wildfires – Chile has had 238,000 ha burned in a whildfire that started late December, damaging towns, ranches, and vineyards.

‘Unusual’ yellow fever outbreak threatens Brazil’s most vulnerable – Brazil’s second most populous state declared a 180-day state of emergency due to a yellow fever outbreak. The World Health Organization has warned that if the disease continues to spread beyond the state’s borders, it could cause a larger epidemic.

Contagious virus that affects young children reaches epidemic levels in Colorado – “Respiratory Syncytial Virus blocks the airways of people who have the virus. It can be deadly for children 2 and under because their airways are so small it makes it difficult for them to breathe, lowering their oxygen levels.”

Asia

More Rain to Come as Floods Leave 43 Dead, 1.6 Million Affected, 500,000 Homes Damaged – Six provinces in Thailand are going river flood caused by extreme, long-term rainfall.

Cagayan de Oro City, in the Philippines, was placed under a state of calamity following massive floods – Seven people were reported dead and the damage to agriculture and infrastructure is estimated at P10 million.

Thai floods may cost up to $3.4 bi if they last for 2-3 monthsfloods in early January killed 43 people, threatened agriculture and affected about 1.6 million people.

Europe, Middle East and Africa

Italy: Abnormal cold front in the south – Italy was hit by unusual and unexpected cold front that affected agriculture and increased heating costs to farmers.

Civilian cost of conflict in Iraq increases amid Daesh threat – “Iraq is threatened by Daesh, which has taken power in several cities, including Iraq’s second largest city Mosul. The country also suffers from sectarian conflict as the government has been prioritizing Shiites, while discriminating against the Sunni population. Besides, corruption accusations against the government have also led to social distractions and the ongoing conflicts have a humanitarian cost.”

Tackling Disaster reduces risk of conflict“The effects of climate change, population growth, rapid urbanization, and environmental degradation are contributing to greater competition for resources, adding to tensions and instability,”

Strong global investment appetite into Europe despite geopolitical instability  – Fourteen percent of foreign investors with a presence in the UK plan to change or relocate some of their European operations in the next three years should the UK leave the European single market. Overall, 11% plan to modify their UK presence in Europe following Brexit. Germany was identified as the preferred destination for those investors moving out of the UK (54%), followed by the Netherlands (33%) and France (8%).

Cyber-Risks

Russia suspected of hacking diplomats’ emailsHackers infiltrated the emails of dozens of Czech Republic senior diplomats.

Russian spies and cyber expert charged with treason for ‘cooperating’ with US – Arrests were made at a time of tension between Washington and Moscow after US intelligence accused Russian hackers of sabotaging US election in favor of Donald Trump.

Lloyds bank accounts targeted in huge cybercrime attach – After the cyber-attack on Tesco Bank, Lloyds Banking Group suffered 48h online attach by cybercriminals that blocked access from customers.

Saudi Arabia on alert for cyber-attacks – Saudi Arabia’s telecoms authority is on alert for a virus named Shamoon.

Top Risks for 2017

Top 10 Risks to the World in 2017 – An analysis from Time

Top five global risks for 2017 – An analysis from the World Economic Forum

The Global Risks Report – Main risks from an Insurance perspective – Zurich

 

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