Aon Risk Solutions says political turmoil, strike, civil war and riots now affect business growth and profitability as much as terrorism.
The Aon 2011 Terrorism and Political Map takes these factors while assessing severity of risks faced by businesses around the world. The ongoing political violence in the Middle East and North Africa according shows higher risks in doing business in this region.
The civil unrests currently underway in Britain, Spain, Greece and France due to the respective government’s austerity drives have also been captured on the map.
Proven conflict zones affected by terrorism like Iraq, Afghanistan, Pakistan and Somalia, and parts of Nigeria and Sahel region. Occasional acts of terror remains a threat for all major western powers as well.
“While terrorism remains a very real threat around the world, the reality is that threats to business continuity are also coming from political violence in all its many forms”, said Neil Henderson, head of terrorism at Aon Risk Solutions’ crisis management team.
“Businesses should, as a first step, identify the threats they face and implement a comprehensive risk management program to protect their employees, physical assets and ultimately, their bottom line. As the insurance market for terrorism insurance is very mature and can cope with complex international risks, it should be considered as part of a sound risk management program”, he added.
Aon has prepared the current map in collaboration with Janusian, a security consultancy firm, and shows risk for travellers as well as security situation for more than 200 countries.