A thorough understanding of the global risk environment is necessary for firms operating in today’s competitive marketplace. Even small and mid-size, domestically-focused firms can get a jump on competitors by staying up to date on the dominant themes keeping the leadership teams at global multinational corporations up at night. The Global Risks Report 2022 (GRR), published annually by the World Economic Forum (WEF), offers a comprehensive assessment of prevailing risk sentiment. This year’s report was compiled with assistance from Marsh McLennan, SK Group and Zurich Insurance Group.

The cost of insuring a heavy commercial vehicle (HCV) against loss or damage due to civil commotion, riots, strikes and terrorism could soar by as much as 1736% as South Africa’s special risks insurer sets about rebuilding its balance sheet after a horrific 2021. This according to Sasria SOC Limited’s 2022 rate renewal schedule, which is likely to go ahead from 1 February 2022 with minimal changes to those published early this year.