Risk levels are rising in Western economies due to the increased terror threat presented by Islamic extremists according to the Aon Terrorism and Political Violence Map. Published by Aon Risk Solutions, the global risk management business of Aon plc, in partnership with The Risk Advisory Group, the map provides insight for business aiming to reduce risk exposures.
Nine developed economies (Australia, Belgium, Canada, Denmark, Estonia, France, Germany, Ireland and Norway) are all rated at increased risk. Many of these rises are largely due to increased terrorism threats, most of which stem from the rising influence of Islamic State (IS) as well as the ongoing threat from Al-Qaeda affiliates and supporters.
Top risks for business include increased terrorism threats across developed economies, and a progressively uncertain and dangerous geopolitical environment, where the risk of armed conflict is growing amid changing and unstable regional balances of power.
Scott Bolton, director, Business Development and Network Relations at Aon Risk Solutions said, “The Aon Terrorism and Political Violence map is a key analytical source which helps our clients understand terrorism risk exposures across the globe. It is interesting that Europe is at significantly greater risk from the rise of the Islamic State. Businesses need to understand how they can mitigate against this risk in affected countries as well as build terrorism insurance programmes that align more closely with their exposure.”
The Terrorism and Political Violence Map shows a mixed picture, with a net reduction on country risk ratings worldwide, but with political violence and terrorism risks concentrating and intensifying around a smaller number of countries. The risk rating was reduced in 21 countries and increased in just 13. The global picture is also one of marked polarity, with clusters of concentrated risk across South Asia (namely Afghanistan and Pakistan), North Africa and the Middle East.
The 21 countries at reduced risk of terrorism and political violence are
Albania, Bangladesh, Barbados, Bhutan, Brazil, Costa Rica, Croatia, Cuba, Czech Republic, Egypt, Fiji, Guyana, Honduras, Kyrgyzstan, Mauritania, Mongolia, Morocco, Mozambique, Panama, Tunisia and Uzbekistan.
The 13 countries at increased risk from terrorism and political violence are: Australia, Belgium, Canada, Denmark, Estonia, France, Germany, Ireland, Lesotho, Norway, Saudi Arabia, Tanzania and Ukraine.