Published annually, the Global Risks report highlights the key economic, social and political risks and underlying trends that the world is likely to face in 2018. Using the insight of nearly 750 experts, this year’s report is broader than ever before with the events of 2017 having a clear impact on this year’s outlook.

The report cited that the number one challenge this year was

the need to address environmental issues including the loss

of biodiversity and extreme weather conditions. These factors

are already creating problems across the globe and the report

calls for a long term, multilateral response to help tackle global

warming and climate change.

Another key issue is managing cyber security risks. This will

be a big issue for many of our clients, with attacks against

organisations doubling over the past five years1. Our Cyber

Liability insurance is designed to cover the costs caused by a

cyber breach as well as protecting you against litigation, data

loss and business interruption.

On a more positive note, economic indicators suggest that

the global economy is gradually recovering from the global

economic crisis that began 10 years ago, however risks such

as unsustainable asset prices and elevated indebtedness

particularly in China continue to put financial strain on the

global economy.

Finally, the report highlighted the risks generated by an

increasingly fraught geopolitical phase. There is a need to re-

establish the state as the key seat of power as at present there is

no sign that the world’s major powers will converge and instead

there are increasing military tensions and changing domestic

political conditions. These factors will pose issues for a number

of organisations and to mitigate risks will require careful horizon

scanning and crisis resilience planning.

World Economic Forum Global Risks report 2018 –What does it mean for businesses?

1https://www.weforum.org/reports/the-global-risks-report-2018 www. ajginternational.com

©2018 Gallagher

We currently arrange specialist insurance and risk management

for a range of sectors, and can offer crisis resilience support and

insurance cover whether you are a small or large

multinational organisation.

It may be hard to predict how the following months will unfold, but

Gallagher are on hand to help you transfer, mitigate and manage

the risks created by this turbulent market. Not only do we support

your needs by offering comprehensive risk management solutions

and bespoke insurance cover, we also strive to keep you informed

on the latest developments through our unique thought leadership

pieces and sharing of relevant external sources.

To read the full World Economic Forum Global Risks report,

click here

If you would like to discuss any of the technologies or issues

brought up at the World Economic Forum, please get in touch with

your usual Gallagher representative.

About Gallagher

Founded by Arthur J. Gallagher in Chicago in 1927, Gallagher

has grown to be one of the leading insurance brokerage, risk

management, and human capital consultant companies in the

world. With significant reach internationally, our organisation

employs over 26,000 people and our global network provides

services in more than 150 countries.

Our people partner with businesses across countries and

international territories to provide relevant and impactful

professional advice. Regardless of what risk and human capital

challenges our clients have, we work hard and utilise industry

specific expertise to find the best solution and to deliver it with

world-class service.

We continue to build on 90 plus years of expertise that spans

global industries. No matter the size of the organisation we partner

with and the challenges presented by the industry, we work

tirelessly to provide solutions that maximise value for our clients.

Our values are core to our culture. Passionate service, strategic

innovation, and ethical behavior form the basis of how we

do business.

We help businesses go beyond their goals. It’s the Gallagher Way.

Conditions & Limitations

This bulletin is not intended to give legal or financial advice, and, accordingly, it should not be relied upon. It should not be regarded as a comprehensive statement of the law and/or market practice in this area. In preparing this bulletin we have relied on information sourced from third parties and we make no claims as to the completeness or accuracy of the information contained. You should not act upon (or should refrain from acting upon) information in this bulletin without first seeking specific legal and/or specialist advice. Arthur J. Gallagher Insurance Brokers Limited accepts no liability for any inaccuracy, omission or mistake in this bulletin, nor will we be responsible for any loss which may be suffered as a result of any person relying on the information contained herein.

Arthur J. Gallagher Insurance Brokers Limited is authorised and regulated by the Financial

Conduct Authority. Registered Office: Spectrum Building, 7th Floor, 55, Blythswood Street,

Glasgow, G2 7AT. Registered in Scotland. Company Number: SC108909

FP193-2018 Exp 20/02/2019

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