Iraq Will Be No. 1 On Terror Risk Map

[cb88]

Iraq Will Be No. 1 On Terror Risk Map: Aon



NU Online News Service, April 14, 1:45 p.m. EDT—</STRONG>Iraq will lead the world as the busiest place for terrorism this year as upsurges in violence shake business confidence around the globe, according to an assessment by the Aon brokerage firm.

The company's London-based Counter Terrorism and Political Risk division said the war in Iraq has increased the frequency of terrorist attacks, moving Iraq from nowhere to sixth in the world league of terrorist incidents.

Based on current projections, the division said, it is expected that Iraq will overtake Kashmir as the world hotspot for terrorist threat during 2004, the London team said.

Added to the terror concerns is an upsurge in kidnap activity in Iraq over the past twelve months.

At the same time, India is facing a variety of terrorist threats from separatists, leftist groups, and Sikh, Hindu and Islamic extremist organizations, according to the Aon analysis.

"Given that a number of Western companies that will be outsourcing operations to India, the need for proper threat assessment and terrorism risk management on the part of these companies has never been greater," Justin Priestley, director at the division, said in a statement.

"Around the world, we have observed an increase in both the severity of terrorist attacks and their capacity to affect business confidence," commented Paul Bassett, executive director of the division. "Incidents such as the bombing of a British bank in Istanbul, or the bombing of trains in Madrid, have both an immediate, tragic and human impact and a longer-term effect on business confidence."

"Companies urgently need to review the threat to their staff and investments all over the world," he added. "In the current situation, location is less relevant than what a company represents as a target to terrorists: The more well-known the brand and the bigger the presence, the greater the threat faced by staff and property all around the world."

The change in the risk evaluation is reflected in Aon's 2004 Global Terrorism Risk map. Additional information on the map is available at www.terrorism.co.uk

[cb88]

For inquiring minds:

[odannyboy]

Originally Posted by cb88

Iraq Will Be No. 1 On Terror Risk Map: Aon



NU Online News Service, April 14, 1:45 p.m. EDT—</STRONG>Iraq will lead the world as the busiest place for terrorism this year as upsurges in violence shake business confidence around the globe, according to an assessment by the Aon brokerage firm.

Has it occurred to you that our little military adventure has no created a terrorrist state? The irony is not lost on me.

[cb88]

Originally Posted by odannyboy

Has it occurred to you that our little military adventure has no created a terrorrist state? The irony is not lost on me.

Danny,

Iraq was ALWAYS on the terrorism map (at least as it pertains to insurance)...it just moved up in status (and with good reason, there is a war going on over there).

That map is for purposes of insurance. Truthfully, if you want to watch world economics and make "hedges" on the future of the global WOT, I'd watch what the staticians do in insurance.

Something I learned A LONG time ago when I first entered insurance....insurance companies are gamblers of sorts. They look at "possible" catastrophic (or major) events and then make bets with businesses that they won't happen. Businesses pay the premium betting they will (or might) insurance companies offer a policy with a payout unequalled any where in Vegas based on their "bet" that it won't.

That's not really the true concept of insurance...but it's a good analogy.

[Joker]

Originally Posted by cb88

For inquiring minds:

With really good eyesight...

[Woodmonkey]

Originally Posted by Joker

With really good eyesight...

and a strong magnifying glass!

[cb88]

Originally Posted by Woodmonkey

and a strong magnifying glass!

The gold areas are essentially the highest rated. The "lighter" the yellow, the lower the rating, the light green are mild risks, the dark green are higher again. So, basically, the bolder the color, the higher the risks. The different colors denote different types of terrorism risks. For instance, the terrorism one might encounter in the jungles of Equador is far different from what one might encounter in the Middle East, but there is a risk nonetheless.

I just quoted an insured who had a building/construction risk in Equador...that was not fun.