Insurance Post
Mike Ford, senior accountant, Sedgwick International UK
11 Mar 2021
Senior accountant, forensic advisory services,
Sedgwick International UK
September 2015 to December 2018
Graduate forensic accountant, forensic advisory services
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Insurance Post
Hélène Galy, managing director of Willis Towers Watson’s Willis Research Network, considers the growing threat of cascading risks.
Cascading, compound and interconnected risks are all around us. Yet, they are still rarely captured explicitly by catastrophe models, which largely focus on a single peril. In some cases, combined impacts may be partially and implicitly represented in models, given that the claims used for calibration may cover multiple perils – for example, claims from inland flooding and storm surge caused by tropical storms – but explicit understanding and acknowledgement of these interactions would support greater resilience.
In a recent report, 222 scientists across 52 countries highlighted cascading crises as the biggest threat to planetary health and future generations. The Covid-19 pandemic has exposed many examples of these complexities, not least when it collides with natural disasters. A number of climate-related hazards – such as t
Policymakers and business leaders need to pay greater attention to low-likelihood, high-impact risks, panellists warned at the launch of the World Economic