September Edition: Building confidence in the future, supply chains and climate risks, and more resource for right now
Marsh McLennan
Marsh McLennan (NYSE: MMC) brings together 85,000 experts in risk, strategy and people.
This month we’re returning with key stories, trends and events that matter this moment.
Building confidence in the future
From security to competition to wellbeing, a growing list of threats imperils the future of countries. In the face of these mounting challenges, it’s increasingly important that governments evaluate whether they, their people and their institutions are resilient enough to take on the future.
In order to better understand national resilience, Marsh McLennan has developed five areas of inquiry that governments can evaluate to determine their own future readiness:
By recognizing the overlapping interests of national resilience, security, and sustainability agendas, countries can evaluate and build a resilience strategy that reflects their nature. They can gain a deeper understanding of where they are strong and where they remain vulnerable — mindful of what the years and decades ahead might bring — and position themselves for future crises, whatever form they take.
Climate resilience: 5 steps to strengthen supply chains
Today’s interconnected, volatile world means that local risks can have global impacts, and nowhere is that more apparent than in supply chains. Raw material shortages, tougher regulatory regimes, armed conflict, cybercrime and more conspire to undermine supply chain resilience, but climate resilience is a growing threat that is not to be overlooked.
The rise of climate-related disasters has positioned natural disasters and extreme weather events as the second-most severe risk over the next two years, per The World Economic Forum’s Global Risks Report, and our own data shows that the number of flood disasters has increased by 181% worldwide since the 1980s.
To counter these threats, companies, especially those in industries with particularly high supply chain risk exposure, must prioritize and act on supply chain resilience, and we recommend beginning with the following five steps:
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In a world that is heating up, supply chain resilience is a competitive advantage, and by effectively collaborating across business functions, companies can prepare themselves for a future where the only certainty is the unexpected.
More resources for right now
The Emerging Risks Group at Marsh explains the importance and implications of an increase in?extreme heat-related workers' compensation claims?in the US. Guy Carpenter sheds light on recent?ransomware attacks?on casino operators. A new book from Mercer and Thinkers50 redefines our perspective on?modern workplaces. And Oliver Wyman shares the experiences of climate, sustainability and commercial leaders who are seeking to achieve?climate action at scale. Find these and more timely insights.
Marsh McLennan wins Insurance Broking Innovation of the Year award
Our colleagues were recently recognized with the Broking Innovation of the Year award at the Insurance Insider Honours 2023 for our community-based catastrophe insurance initiative, which allows community organizations, special-purpose districts or other public entities to expand financial protection and develop risk mitigation strategies on behalf of its members. Congratulations to all our colleagues who contributed to this innovative program that delivers much-needed solutions for real-world issues.
Building a more inclusive, diverse future at the Dive In festival
Marsh McLennan is once again proud to support Dive In — the annual festival for diversity, equity and inclusion in insurance. The festival hosted events across 38 countries from September 26-28, and this year's theme was ‘Unlocking Innovation: The Power of Inclusion’, focusing on creating an inclusive culture that values diverse perspectives is essential for driving innovation in the insurance industry.
In addition to our sponsorship, our colleagues were featured in 33 individual sessions around the world, with hundreds more attending events to show their support for a more inclusive, diverse and innovative future.