Bence Buttás’ Post

We know this year's election is emotionally charged (to say the least), but according to a recent Beazley survey, it goes well beyond feelings. In fact, 65% of North American execs fear their ability to trade internationally will be impacted, with political risk ranking as the top threat for 32% of U.S. leaders. This “year of the election" will see 60+ countries hold major elections, and Beazley's Roddy Barnett emphasizes the critical role of insurance in providing financial reassurance amidst growing political tensions worldwide. "With growing political tensions across the globe, standalone cover for political risk and trade credit, political violence, strikes, riots and civil commotion is increasingly important,” he said. “As businesses become exposed to a growing range of perils, the need to move away from pure terrorism cover is apparent, with businesses in major Western democracies being particularly affected.” Check out the full report: https://lnkd.in/gMTXh5Yf #insurance #elections #president #risk #geopolitics #economy #reinsurance #conflict #democracy #politics #terrorism #business #riskmanagement

From hurricanes to port strikes and rising geopolitical risks, the economy and markets are contending with a list of “October surprises” that have emerged in just the first week. What sort of impact might these have on the U.S. late-stage expansion? Read more https://bit.ly/47XvTRq #PortStrikes #Geopolitics #Markets #InvestmentStrategy

In aggregate, the October disruptions that have popped up so far do not appear enough to knock the U.S. out of its late-stage expansion but warrant ongoing monitoring. Check out our short Investment Strategy Brief for more on the potential economic/market impacts from the hurricanes, port strikes and rising geopolitical tensions. #Economy #Markets #InvestmentStrategy

Waking up this morning to the breaking news from US, this article from Beazley's 2024 Geopolitical Risks Snapshot felt sadly even more relevant. Election year is likely to lead to increased risk of civil unrest, according to research in our Geopolitical Risk Report. Businesses have a duty of care responsibility - consider how this will impact the safety of your business. Read more about the reasons why Deadly Weapons Protection is becoming increasingly necessary. #Beazley #Insurance #Riskmanagement

What political risk mitigation should businesses have in place this year? With over 60 elections this year, it's important for business leaders to be prepared. Read more in our 2024 Geopolitical Risks Snapshot: https://ow.ly/y1nJ50So8g5 #2024GeopoliticalRiskSnapshot

In a year marked by significant global challenges, from the IT outage that disrupted services worldwide to the devastating wildfires in California, and the intense political climate of the 2024 election cycle, it's more important than ever to stay informed. With over 60 elections scheduled this year, encompassing over half the world's population, the potential for political unrest is heightened. Understanding these risks and their possible impacts on operations and employees is crucial for both businesses and their clients. Proactive measures against political violence, strikes, riots, and civil commotion are not just advisable but essential for resilience in these turbulent times. Read our Geopolitical Risk Snapshot 2024 to find out more: https://lnkd.in/gm6ctHjy #RiskandResilience #Beazley #Insurance #GeopoliticalRisk

The June 2024 issue of the Journal of Risk and Insurance is now available! This is a special issue on climate change and natural disasters with many terrific contributions to knowledge in the space.   #risk #riskmanagement #insurance #research #climatechange #naturaldisasters

Understanding today's divided world 🌎 ⚡ 🌍 ⚡ 🌏 can be challenging. Fortunately HIVE Underwriters has the likes of David Langran who together with the HIVE team (incl. a sizeable panel of expert intelligence advisers 🕵♂️🕵♀️), help make sense of the risks. #Knowgedge-led #Analytics #Intelligence

In a year marked by significant global challenges, from the IT outage that disrupted services worldwide to the devastating wildfires in California, and the intense political climate of the 2024 election cycle, it's more important than ever to stay informed. With over 60 elections scheduled this year, encompassing over half the world's population, the potential for political unrest is heightened. Understanding these risks and their possible impacts on operations and employees is crucial for both businesses and their clients. Proactive measures against political violence, strikes, riots, and civil commotion are not just advisable but essential for resilience in these turbulent times. Read our Geopolitical Risk Snapshot 2024 to find out more: https://lnkd.in/e_grg9YH #RiskandResilience #Beazley #Insurance #GeopoliticalRisk

Are you contemplating / updating your ‘severe but plausible’ scenarios for operational resilience in readiness for Office of the Superintendent of Financial Institutions Canada or Bank for International Settlements – BIS requirements? CBC provides great insights into the environment and crises Canada-facing financial institutions and businesses should consider for readiness related to: (a) OSFI Guideline E-21: Operational Resilience and Operational Risk Management [Oct 2023 draft] (https://lnkd.in/gixbdUQD); (b) BIS’ D-515 Operational Risk Principles (https://lnkd.in/gPTPjbpS); (c) BIS’ D-516 Operational Resilience Principles (https://lnkd.in/gy_zU4ax). For other jurisdictions, similar considerations should be made (relevancy / applicability / related risks) when designing scenarios in readiness for foreseeable regulatory expectations, including: • Australian Prudential Regulation Authority‘s CPS 230 Operational Risk Management (https://lnkd.in/gDRVjWGf) • Financial Markets Authority - New Zealand’s consultation document (https://lnkd.in/gBXBzUNn) #riskmanagement #risk #compliance #management #operationalresilience