The food and beverage sector’s reliance on global markets for many raw materials and products leaves businesses exposed to a wide range of emerging geopolitical risks.
- Conflicts, such as the Russia-Ukraine crisis, can put production of basic commodities at risk and lead to sanctions, sudden price volatility, inflation and disruption to trade routes.
- Food tariffs and penalties are being weaponized as a way to punish states or achieve international policy objectives.
- State-sponsored cyber-attacks are on the rise, potentially affecting an industry increasingly dependent on new technologies.
- The rise of food nationalism is forcing countries to bring their supply chains home, creating disruption risks and pushing up costs.
- Businesses also face the perennial dangers of terrorism or kidnap that come with doing business in high-risk countries.
Contacts
How we can help
Related content
Our geopolitical expertise
WTW’s global team includes specialists in political risk analytics, crisis management, risk engineering and broking, with the knowledge and analytical tools to help you understand emerging global trends.
Our team offer a comprehensive range of consultancy, risk transfer and crisis management services to help you mitigate your risks and minimize your exposures.
Insurance solutions for geopolitical risk
Political risk insurance
Sudden political events can have a direct impact on food and beverage businesses, for example if governments confiscate stock, destroy property, cancel licenses or block imports and exports.
We will tailor cover to protect you from the financial impacts in a wide variety of scenarios.
Terrorism and political violence
WTW can help find solutions to protect you against losses caused by domestic and international terrorism, strikes, riots, civil commotion, sabotage, active assailants, and nuclear, chemical, biological and radiological (NCBR) terrorism as well as war.
We can also help you cover losses due to impairment of access, loss of attraction, or the threat of a terror attack.
Special crime
Incidents such as kidnap, political detention & unrest, extortion and threats against staff are a real and growing threat in many countries in the global food and drink supply chain.
We can arrange cover for your people who are travelling and working in those countries, including rapid crisis response, the costs of managing the incident, expert negotiation and evacuation.
Cyber threats
Cover for the fallout from state-sponsored or terror-related cyber-attacks can be included as part of a cyber insurance policy.
Talk to our specialists listed at the top of this page about how to mitigate, manage or transfer your geopolitical risks.
