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World map. “Against a challenging backdrop, business strategies are now at a point of inflection,” Roddy Barnett, head of political risks & trade credit, at Beazley said in a release. “Even those territories far removed from the theatre of war in Eastern Europe are feeling the impact of global sanctions and commodity shortages on risks across the board from supply chain to cyber to political risk and trade credit.” (Credit: Shutterstock.com/Antiv) “Against a challenging backdrop, business strategies are now at a point of inflection,” Roddy Barnett, head of political risks & trade credit, at Beazley said in a release. “Even those territories far removed from the theatre of war in Eastern Europe are feeling the impact of global sanctions and commodity shortages on risks across the board from supply chain to cyber to political risk and trade credit.” (Credit: Shutterstock.com/Antiv)

Fewer business leaders across the U.S. and U.K. are confident in their organizations’ ability to handle the most pressing geopolitical risks, including war, inflation and economic uncertainty, according to a survey by Beazley Group.

For example, the share of respondents that ranked war and terror as their top risk increased 46% compared with 2021. However, 10% fewer business leaders reported feeling ‘very prepared’ to face these risks, according to Beazley. The survey was conducted shortly before Russia invaded Ukraine.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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