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Pandemic not the biggest concern for UK risk experts

By 29/09/2021No Comments

Ranking

UK experts

UK general public

1

Climate change

Climate change

2

Cybersecurity risks

Pandemics and infectious diseases

3

Pandemics and infectious diseases

New security threats and terrorism

4

Geopolitical instability

Cybersecurity risks

5

Natural resources and biodiversity risks

Pollution

6

Social discontent and local conflicts

Natural resources and biodiversity

7

New security threats and terrorism

Chronic illness

8

Financial stability risks

Geopolitical instability

9

Macro-economic risks

Social discontent and local conflicts

10

Risks related to artificial intelligence and big data

Financial stability risks

  

Globally, risk experts see climate change as the biggest risk within the next decade; the general public, pandemics and infectious diseases. For this year’s report, AXA polled 3,448 experts from 60 countries, as well as 19,000 adult members of the public from 15 countries. Of these, 400 experts and 1,001 members of the public were based in the UK.

Commenting on the UK survey results, AXA UK and Ireland chief executive Claudio Gienal said: “At a time when life has been dominated by other important issues, such as the COVID-19 pandemic and economic instability, it is perhaps surprising that climate change would top the list.

“However, this clearly demonstrates that for many people climate change is a very real risk which is fast approaching, if not already upon us. There is no doubt that climate change is one of the most serious and damaging risks we as a global population face, so it’s encouraging that this has been acknowledged as the number one risk in the UK.”

Gienal highlighted that there’s a “real opportunity here for everyone” to collaborate in helping mitigate both present and future risks.

“The message from this report is clear,” added Sean McGovern, chief executive of UK & Lloyd’s market at AXA XL. “UK risk experts and the broader population believe the UK government needs to put climate change front and centre.

“London is recognised around the world for its insurance and risk expertise and is renowned for its experience in addressing the most complex, emerging risks. It has a dual role to play; both by supporting our clients and local communities in tackling the immediate impacts of climate change and – through the work being done within the London market and Lloyd’s – by helping to create climate resiliency around the world. This is an opportunity that we cannot afford to miss.”

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