Shen Attack Cyber Risk Scenario: up to $110 billion at risk from maritime malware attack

Shen Attack Cyber Risk Scenario: up to $110 billion at risk from maritime malware attack

  What would be the impact on insurers and the global economy if key ports in Asia-Pacific were closed as a result of a cyber attack? Our new scenario report explores the impact of a hypothetical computer virus which closes up to 15 ports in Asia. Economic losses from closures and disruption range from $40.8Read more

How Turkey’s new offensive into Syria threatens world order

How Turkey’s new offensive into Syria threatens world order

  Turkey’s recent military offensive in Syria, which began last week, has complicated the balance of power in the Middle East and exacerbated the fractures in NATO. Knock-on effects include intensifying an already standoffish relationship between the US Congress and President Trump, emboldening disruptive forces such as Iran and Russia, and destabilising the security situationRead more

California’s wildfire mitigation is a risky gamble

California’s wildfire mitigation is a risky gamble

On the evening of Wednesday, 9 October, Pacific Gas & Electric began the process of cutting off the electricity supply for 2.4 million Californians in order to diminish its wildfire risk. Meteorological forecasts suggested dry, gusty winds in certain areas, increasing the likelihood for fires starting. Given its dependency on the weather, PG&E has notRead more

The attack on Saudi Arabia’s oil industry increases the risk in every sector

The attack on Saudi Arabia’s oil industry increases the risk in every sector

A suspected missile attack against Saudi Aramco holdings in northern Saudi Arabia on the morning of Saturday, 13 September has further enflamed geopolitical tensions in the region. Saudi Aramco is a strategically-vital pillar of industry for the kingdom and important to the global energy market as a whole. The incident pulls together several risk trendsRead more

What was the cost of Friday’s UK power outage?

What was the cost of Friday’s UK power outage?

Power outages have significant impacts on business continuity. They lead to reduced foot traffic, damaged perishable inventory, and an inability to process payments or communicate with customers. The three-hour outage in England and Wales on Friday, 9 August, demonstrated the scale of disruption these events can cause. One million households across the UK were affectedRead more

The Next Decade in Risk: Technology Risks

The Next Decade in Risk: Technology Risks

Looking back at the last decade of cyber risk offers insight into what can be expected for the future growth of technologies and vulnerabilities. The most expensive cyber attacks of the last decade were both contagious malware events that struck in 2017, WannaCry and NotPetya. These events caused an estimated $3 billion and $10 billionRead more

The Next Decade in Risk: Geopolitical and Security Risks

The Next Decade in Risk: Geopolitical and Security Risks

  Geopolitical conflict is one of the oldest risks known to society and yet a simple explanation of its various causes, impacts, and solutions continuously eludes us. We have acquired a general understanding that the legacy of protracted conflicts in the Middle East during the early 2000s, exacerbated by the global effects of the GreatRead more

The Next Decade in Risk: Financial and Economic Risks

The Next Decade in Risk: Financial and Economic Risks

While stock markets can rarely be predicted and economic recessions can hardly be timed, the financial and economic events, trends, and research which appeared in the last decade have still been informative in assembling a risk outlook for the ten years to come. Ten years ago, we were still in the grip of the GreatRead more

A look back at the 10th Anniversary Risk Summit

A look back at the 10th Anniversary Risk Summit

On 20-21 June, the Centre for Risk Studies hosted its annual Risk Summit, our flagship conference event bringing together experts from industry and academic to discuss risk from new perspectives. This year was a particularly special Summit, our tenth in as many years which also celebrated the tenth anniversary of the Centre’s founding in 2009.Read more

Innovation Risk: is 5G already a white elephant?

Innovation Risk: is 5G already a white elephant?

  The US’ allegations of cyber espionage by Chinese tech giant Huawei are still sending ripples through the news. While trade conditions continue to sour between the two nations, effecting supply-side prices, the conversation in Europe has drifted towards decisions to grant contracts to Huawei for the expansion of 5G infrastructure. With more than 40Read more

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