Page 20 - Risk Management Bulletin Jan- Mar 2021

RMAI BULLETIN JANUARY TO MARCH 2021

CRISIS

MANAGEMENT;

BUILDING

CORPORATE

RESILIENCE

T he COVID-19 pandemic has been a true home or abroad - and which could escalate into a crisis

global crisis. The tragic loss of life, and
- have not gone away. Those include natural and man-
severe and lasting health effects for so
made disasters, political violence and terrorism,
many hundreds of thousands of people,
have been a salutary reminder that a crisis can hit bribery, lone assailants, political upheaval, industrial
accidents and more.
anyone, at any time.
Some of these risks may be well known and
As organisations in all sectors quickly found new ways of understood by businesses, others might be new and
working to adapt to the pandemic and the restrictions on evolving. Current risks faced by companies operating
the movement of people and goods, many were around the world include increased political and social
prompted to think even more deeply about how to build unrest in Lebanon, ongoing protests and unrest in
corporate resilience. Hong Kong, and an uptick in "virtual kidnappings" in
hotels in Mexico - whereby victims are forced to
Against the backdrop of the pandemic, the myriad
refrain from contacting the outside world and an
other risks that organisations face when operating at extortion demand is made for their freedom.
About the author The current global situation is such that a "non-

pandemic" crisis becomes a potentially more complex
Charlie Matheson crisis than it would have been, because of the health
Global Product Head emergency that we still face and the measures in place
Security Risks, AXA XL
to try to combat it.

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