A3: We also need to consider, given changing natural disaster patterns, updating our risk profiles and running through scenarios about potential events and their impacts, so we can more effectively mitigate, manage, and recover from them. #MMChats #Risks23 #WEF23

A4: Many of the risks affecting our most vulnerable are considered “old” risks that we thought we had under control. Clearly, we have more work to do. #MMChats #Risks23 #WEF23

A4: While there are numerous short-term fixes that can be applied, we really should view this through a long-term lens. Investments in health, education, infrastructure, and renewable energy all will help advance society and build resilience to future shocks. #Risks23 #MMChats

A4: Employers have a role to play here too. If they offer benefits that cover both physical and mental health, and that are appropriate to the diverse populations they employ, they can offer a level of extra protection during polycrises times. #Risks23 #WEF23 #MMChats

A5: Cyber risk is only going to increase in the coming years as we continue to advance technologically and make available more potential entry points for malicious actors. #MMChats #Risks23 #WEF23

A5: Public and private sector cooperation is essential to identifying and protecting against these threats. #MMChats #Risks23 #WEF23

A5: We also need to improve cybersecurity awareness and engagement across the board. Businesses themselves should look to implement best practice cyber controls to mitigate cyber risk and prepare for disruptions. #Risks23 #WEF23 #MMChats

A5: Insurance is a key part of this given the time, effort, and costs related to preparing for, responding to, and recovering from data breaches and cyberattacks. #Risks23 #WEF23 #MMChats

A5: Without the right supports, a business could find itself locked out of its systems or forced to close its doors forever. #MMChats #Risks23 #WEF23

A6: The COVID-19 pandemic, shortages of qualified medical personnel, burnout, litigation costs, and more are pushing health care systems to their limit. #MMChats #Risks23 #WEF23

A6: The pandemic also brought to light for many C-suite executives the extent of their employees’ physical and mental health needs. #MMChats #Risks23 #WEF23

A6: To promote and protect health and well-being, employers can support flexible work arrangements; encourage preventative health measures; expand mental health programs; provide access to digital health tools; and develop an overall culture of health. #Risks23 #WEF23 #MMChats

A7: Inaction on climate change and nature loss could affect health risks in many ways. It could lead to increased exposure to heatwaves, air pollution, waterborne diseases, and malnutrition, all of which can compromise health and well-being. #MMChats #Risks23 #WEF23

A7: If we defer investments in climate change mitigation and nature preservation, the accumulating impacts could be detrimental to sustainability and societal advancement, and compromise our resilience when confronted by the next major global shock. #Risks23 #WEF23 #MMChats

A8: Resilience investments should be viewed as a growth enabler and not a drag on the bottom line. Developing a resilience mindset, which can reduce uncertainties, help with making better investment decisions, and support agile responses, is essential. #MMChats #Risks23 #WEF23

A8: Businesses must move beyond being reactive to crises and events, and be proactive in their planning, preparation, and risk mitigation. #Risks23 #WEF23 #MMChats

A8: Augmenting relevant metrics, engaging in scenario planning exercises, and understanding how risks interact and potentially compound will help. #Risks23 #WEF23 #MMChats

A8: It’s especially important for businesses to understand where and who they source from. #Risks23 #WEF23 #MMChats

A8: Given fragile supply chains, cross-border conflicts, potential resource nationalism, and climate events, stockpiling, vertical integration, near-shoring, and home-shoring are all options. #MMChats #Risks23 #WEF23

“Despite all the risks … I think the world was never a better place to live.” Zurich Insurance Insurance’s Chief Risk Officer is optimistic in the face of the massive challenges facing humanity. Hear his assessment of how things have changed since the World Economic Forum published its