27 April 2005

Terrorism Risk...

For a copy of the 2005 Aon Terrorism Risk Map Click here to visit their site. It has their risk ratings for every territory in the world.

The Teorrism Risk Map shows that participation in the US-led Iraq coalition has increased terrorism risk in countries such as Australia, Poland and Estonia. There is concern that Al-Qaida and other international terrorist organizations could take advantage of anti-western sentiment and launch terrorist attacks in these countries in future. Businesses which originate from these countries should also be aware of threats to their operations and personnel abroad as evidenced by incidents such as the terrorist attack on the Australian embassy in Indonesia, the recent bombing of a British theater and school in Qatar and the thwarted plot to blow up the Italian embassy in Lebanon.

"Terrorism is not a new threat and many international businesses have to date been rightly pre-occupied with the risks facing their operations in the Middle East, Africa and the Gulf. Although companies do need to be aware of the global picture, the 2005 map highlights the need for vigilance in so called 'safer' European countries," commented Paul Bassett, executive director in Aon's Crisis Management division.

"Companies must acquire as much knowledge as possible about the risks they face and their exposure to those risks in order to minimize the human and financial impact of such attacks. Businesses can then assess how best to allocate their expenditure on insurance and counter terrorism risk management procedures effectively," he added.

What does all of this mean? It means that now more than ever the insurance industry is going to look more closely at the risk of your people and property being in harms way. And if they are, then what is being done to mitigate those risks. It all comes down to what the insurance companies want from you as a client. To buy more insurance. If that is all you do, then you have missed several other strategic and tactical means for protecting your organizations vital assets.

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