Insurance Age

Risk perspectives - A review of '08 and a look ahead

The effects of flooding in 2008 were nowhere near as severe as 2007, there were no significant terror alerts, no outbreaks of H5N1 avian influenza and no disasters of the Buncefield type. However, all was not rosy. The huge increase in fuel prices led to many businesses facing severe financial difficulties and even administration or liquidation. Compounded by the downturn in the economy and increasing prices for goods and services, businesses have been forced to look at ways to reduce costs.