MOSCOW, April 29 (RIA Novosti) – Terrorism and sabotage should be ranked higher than their current 46th place on the list of key concerns for business managers, argue the authors of a survey of business leaders from 70 countries.
“It is barely conceivable that a little over a decade after one of the most impactful risk events in recent world history, the ranking for terrorism is so low,” said the report, entitled “2014 Underrated Threats.”
“Not a day goes by without news of political unrest and terrorist attacks which are taking place all over the globe destroying endless lives and livelihoods, but it seems that the world has become de-sensitised to them as those events occur too frequently and have almost become a ‘normal’ part of our lives,” according to the report by UK-based Aon Risk Solutions and released Monday.
The authors argue that terrorism has become a global problem that cannot be ignored.
“The sad truth is that terrorism attacks are not confined to politically or economically unstable regions. They can happen anywhere, anytime and without reason, but their horrible commonality is that the results are almost always devastating,” report said.
Over half of respondents said terrorism should be ranked higher than 46th place as the Terrorism Risk Insurance Act (TRIA) expiration is pending.
Apart from terrorism, those surveyed by Aon named as top risks are economic slowdown, regulatory changes, political uncertainties and cash flow.
The Terrorism Insurance Act, initially signed by US President George W. Bush in 2002, was designed to guarantee a compensation system for insurance companies for losses caused by terroristic acts. In 2007 the act was extended to December 2014.
The survey released Monday was conducted among 1,415 risk managers, CFOs and CEOs from 70 countries
