5 Factors Stoking The Fires Of Global Unrest

Anger over growing social inequality and the cost of living, sinking faith in governments and institutions, and increasingly polarized politics, together with a rise in activism and environmental concerns, are the main factors expected to fuel incidents of strikes, riots and civil commotion (SRCC).

At least, that’s what a new report, Outlook: Strikes, riots and civil commotion -- a test of business resilience, from insurer Allianz Global Corporate & Specialty (AGCS) has concluded.

Ongoing incidents of SRCC put political risk and violence as a new entry among the top 10 global risks in the Allianz Risk Barometer 2023.

Civil unrest risks rose in over 50% of countries between 2022 Q2 and Q3, as reported in the Verisk Maplecroft Civil Unrest Index, just as businesses witnessed an increased impact on their operations.

‘Incidents of strikes, riots and civil commotion have not only increased in recent years, they are also becoming more intense and catastrophic. These types of events are making our era one of uncertainty,’ said Srdjan Todorovic, head of political violence and hostile environment solutions at AGCS.