Amid rising global tensions, businesses grapple with potential political violence and property damage at home and abroad, underscoring the need for robust risk mitigation strategies, according to Beazley.
A surge in global elections this year could lead to an increase in political violence and property damage, posing significant risks to businesses, according to a report from insurer Beazley P.L.C.
The study, “Geopolitical Risk Snapshot 2024,” also highlights the geopolitical risks associated with mining critical minerals for the energy transition and the potential for Africa to become an economic powerhouse despite high political volatility.
“In a time of heightened global tension and arguably, one of the most volatile political landscapes in decades, the threat of political risk and violence is high on the risk radars of global business leaders,” the report’s authors state.
The report reveals that 70% of global business leaders are concerned that the outcome of this year’s elections will impact their international operations and ability to trade. Furthermore, 36% of corporate…
