News
18 CouNtries see risk status dowNgraded
Aon releases findings of latest Political Risk Map
Political and financial instability remain
a feature of the business landscape as a
result of the recession, according to the
latest Political Risk Map from Aon Risk
Services.
Commenting on the findings of the
map, Miles Johnstone, director of Aon’s
Political Risk team, explained: “Rising risk
levels in 2009 have led to a significant
volume of credit and political risk claims
in international insurance markets which
is driving many of the 18 downgrades
in this year’s map. For instance non-
payment of sovereign and sub-sovereign
debt obligations is a major issue for
underwriters insuring risks in Ghana,
and underwriters continue to experience
a multitude of claims stemming from
payment defaults by private sector banks
in Ukraine.”
Nine countries have been upgraded to a
lower risk level: Albania, Myanmar/Burma,
Hong Kong, Colombia, South Africa, Sri
Lanka, East Timor, Vanuatu and Vietnam.
Eighteen countries have seen conditions
worsen leading to a downgrade: Algeria,
Argentina, El Salvador, Equatorial Guinea,
Ghana, Honduras, Kazakhstan, Latvia,
Madagascar, Mauritania, Philippines,
Puerto Rico, Seychelles, Sudan, United
e
Arab Emirates, Ukraine, Venezuela and
Yemen.
Sudan, Venezuela and Yemen have been
added to the Very High category, joining
Afghanistan, Congo DRC, Iran, Iraq, North
s
tockphoto.com/lorrainedark
Korea, Somalia and Zimbabwe.
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The map introduces new indices Agriculture Organisation of the United map: Food and Water Insecurity. They
looking at food, agricultural commodity Nations warned that global food prices have been applied to the 30 most ‘high
and water supplies. Sam Wilkin, associate could quickly rise again. risk’ countries – that is those countries
director of the consultancy practice at “With global warming changing potentially facing the most severe food and
Oxford Analytica, said: “For the past regional climates and weather patterns and water insecurity in the medium to long
20 years, global population growth has driving demand for bio-fuels, the world term. These are all developing countries,
outpaced growth in agricultural output. A faces unprecedented food and water risks. mostly in Africa, which is in keeping with
run up in world food prices in 2007 and Aon and Oxford Analytica have developed the conventional wisdom that the impacts
2008 led to dramatic geopolitical events, a pair of forward looking indices analysing of climate change will rebound hardest on
from food riots in India to worker unrest global food and water insecurity.” the countries least responsible for global
in Cambodia. Last month the Food and There are two new icons on the 2010 warming.
New head oF risk aNd BCM serviCes at PwC
Martin Caddick leaves insurance broker Marsh to take up post
PricewaterhouseCoopers (PwC) has appointed Martin Caddick colleagues specialising in risk management, assurance and
to lead its risk and business continuity management services. information management.”
Caddick joins PwC from Marsh, where he was responsible for Martin Caddick added: “In my new role I look forward to
developing a successful business continuity practice. leading a team which aims to deliver pragmatic, cost effective
Marco Amitrano, head of risk assurance services at PwC, answers to the challenges that organisations face when trying
said: “Effective business resilience is increasingly important to to implement effective continuity and crisis management plans.
our clients, and we are investing to strengthen our services in Our role is to save clients time and money and improve the
this area. Martin brings excellent experience and leadership effectiveness of their plans through the closer alignment of
skills to our team, and will be working closely with senior business continuity with risk management.”
  Continuity  January/February 2010
Cont Jan/Feb 2010_insides.indd 4 3/2/10 14:49:09
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