Risk Services
It is widely recognized that Risk-based decision-making is the best tool to determine appropriate government, corporate and personal security measures and that using this method ensures a systematic and analytical approach. It not only considers the likelihood that a functional, administrative or security breach will endanger an asset or individual, but it is also a valuable tool in the identification of the actions necessary to reduce the vulnerability to and the mitigation of the consequences of such a breach.
Physical Assets
Globalization and mass market communications mean that critical infrastructure – both public and private – is becoming increasingly vulnerable, not only to international crime & terrorism, but also to the effects of accidents & natural disasters.
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Political
Throughout the world, criminal & terrorist organizations have clearly identified corporations and key economic and governmental centres / infrastructure as their preferred targets.
With the rapid development of globalization and the advances made in communications’ interconnectivity, Political Risks now transcend countries and continents. The menace affects nations, international corporations and even extends to influential individuals
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Personal
International terrorism & crime – including kidnapping, blackmail and political violence – have become everyday risks, not only for key personnel in corporations, but also for dignitaries and other influential individuals, with results that can be catastrophic for both businesses and families.
One-third of all S&P 500 firms can be classified as family-controlled and the majority of publicly held firms in Western Europe are also controlled by private families. Most such corporations have unique characteristics and risks, together with very specific needs when things go wrong….continue {personal risk}
Crime & Terrorism Insurance
This is considered to be a particularly problematic product for insurance companies as the joint factors of location, occupation, uncertainty and potentially huge losses mean that probability of an attack is not only very difficult to forecast, but the potential liability highly complex to compute. The result therefore can be a premium overkill that often does not justify the true risk level of the client.
For example, the September 11, 2001 attacks resulted in an unexpected loss of about USD32 billion, making it the largest insurance loss in the industry's history. This predicament however, is not limited to large scale attacks on nations and economies, it also relates to low impact attacks – such as kidnap and ransom incidents – which are particularly relevant to international corporations and to vulnerable individuals. |
