Risks to address: Climate change and cybersecurity

According to the United Nations, we are at a decisive moment to successfully face the greatest challenge of our time: the climate change. “Every day, in different parts of the world geography, the planet sends us messages about the enormous transformations it is undergoing: from changing weather patterns that threaten food production; to rising sea levels that increase the risk of catastrophic flooding. The effects of climate change affect us all. If drastic measures are not taken now, it will be much more difficult and costly to adapt to its effects in the future,” according to a document from the international organization.

“The Top 10 emerging risks globally in 2022 are: climate change (1st), geopolitical instability (2nd), cybersecurity risks (3rd), energy risks (4th), pandemics and infectious diseases (5th .), tension and social movements (6th), natural resource and biodiversity risks (7th), financial instability risks (8th), macroeconomic risks (9th) and fiscal monetary policy risks (10th)” commented Daniel Bandle, CEO of Axa Mexico.

Presenting the analysis developed by Grupo AXA in alliance with Ipsos, he said that for Mexico, the 5 main risks are: climate change (1st.), risks of cyber security (2nd), pandemics and infectious diseases (3rd), geopolitical instability (4th) and tension and social movements (5th).

He explained that given the perception of the main risk, the insurance industry can help through Parametric Insurance “They are insurance that complement a traditional damage insurance. This type of financial instrument protects a client when there is a parameter related to nature that causes some economic damage or to the operation of a company or industry without the need for material damage”.

“In the case of cybersecurity risks, interest has grown in contracting policies that contemplate the financial risks in the face of a potential attack. At AXA Mexico we currently have policies worth more than 2 million dollars”, concluded Bandle, CEO of the insurer.

patricia.ortega@eleconomista.mx