strikes riots and civil commotion (SRCC) News

Rising Civil Unrest, Political Violence Remain Top 10 Risk for Global Businesses: Allianz

Soaring levels of civil unrest and political violence are a key concern for businesses of all sizes as well as for their insurers, according to a report published by Allianz Commercial. The impact of civil unrest or strikes, riots and …

Ships Canceled, Smelter Hit As Mozambique Braces for More Post-Election Disruption

Post-election protests rocking Mozambique since late October have interrupted trade and hampered a major aluminum smelter, with the southeast African nation braced for more disruption next week. The Constitutional Council is set to validate the disputed vote by Dec. 23 …

Geopolitical Conflict Could Cost Global Economy $14.5 Trillion Over 5 Years: Lloyd’s

The global economy could be exposed to losses of US$14.5 trillion over a five-year period from the threat of a hypothetical geopolitical conflict causing widespread disruption to global trade patterns and supply chains, according to a report published by Lloyd’s, …

Predictive Model Delivers Insights as Insurers, Reinsurers Brace for More Civil Unrest

Executive Summary: Insurers and reinsurers are responding to heightened risks of civil unrest with better calculations of their probable maximum losses, careful risk pricing, clear contractual wordings, and by using new modeling tools to help grasp this potentially costly risk. …

Markets/Coverages: Mosaic Offers Syndicated Terrorism Cover for Fine Art & Specie

Mosaic Insurance, the Bermuda-based specialty insurer, has launched customized global terrorism and sabotage coverage for fine art and specie insureds, with syndicated capacity extending up to $215 million per risk. The new product offers coverage for physical loss or damage …

Why the Canadian Freight Rail Halt Will Roil North American Supply Chains

Canada’s two main freight rail companies locked out around 10,000 of their Canadian unionized workers early on Thursday, starting an unprecedented simultaneous work stoppage that will grind almost all railway freight movement in the country to a halt. HOW INTEGRATED …

Insured Losses From UK Riots Will Be Manageable, With Claims Below £250M: Report

Insured losses from recent riots in the United Kingdom are expected to remain at manageable levels with a limited impact on insurers’ credit profiles, according to credit agency Morningstar DBRS, in a market commentary. The main reason for manageable claims …

UK Revisits Social Media Regulation After Far-Right Riots

The British government is considering changes to the Online Safety Act designed to regulate social media companies, following a week of racist rioting driven by false information online. WHY IT’S IMPORTANT The act, passed in October but not set to …

German Port Workers Strike Could Cost $6 Billion in Lost Trade: Russell Group Analysis

Port strikes at five key five German ports may cost $6 billion (£4.71 billion) in lost trade according to analysis by Russell Group, a data and analytics company. There is a 24-to-48-hour strike by port workers across the five key …

ECB Warns of Financial Stability Risks From Global Elections, Geopolitics

Geopolitical tensions and a raft of elections around the world are heightening the risk that investors will be jolted by negative surprises and endanger financial stability, the European Central Bank warned. Markets have so far taken a relaxed view on …