The Russia-Ukraine war has resulted in a tragic loss of life, the displacement of people, widescale property destruction and political and global economic disruption. It remains a complex and fluid situation. Organizations should stay informed of the latest developments and take steps to mitigate the risks posed by the conflict on their business.
The war has caused several geopolitical risks for businesses around the world, including:
- Supply chain disruptions: Organizations reliant on agricultural products and manufactured goods from Ukraine, Russia or other nearby nations may be unable to access those supplies due to the conflict, closed airspace and waterways, or sanctions.
- Cyberattacks: The conflict has also raised the risk of cyberattacks as both sides have accused each other of launching attacks. Organizations should review their cybersecurity posture and take steps to mitigate the risk of a cyberattack.
- Financial market volatility: The war has caused financial market volatility as investors have reacted to the uncertainty surrounding the conflict. The volatility has spread beyond the locally affected markets, occasionally impacting other markets both near and far from the conflict. Organizations should monitor the situation closely and be prepared for potential market volatility.
The challenges this conflict created are immense. But we will help our clients face them.
How we can support you:
Our Forensic Accounting and Complex Claims (FACC) team is available to assist with calculations in the preparation of claims resulting from business interruption, contingent business interruption, property damage, extra expense, contents and stock losses. The team works in conjunction with our claim advocates and other associates to move quickly through the settlement process and maximize your claim recoveries based on the policy wording in place. The FACC team can help you across all industries and geographies to recover from catastrophic events.