Coalitions between different business sectors beneficial for handling threats: Lloyd’s

Today’s sophisticated, industrialized and complex world is under attack from a myriad of determined and deadly threats, according to Lord Levene, Chairman of Lloyd’s.
However, as compared to the past, today’s society has more tools at its disposal, Levene said, speaking at a London event on Oct. 1 co-hosted by Lloyd’s and NATO.
Society’s stronger scientific, technological and political grasp of risk, means that it does not need to “labour too long or too hard” on the nature of the risk, and instead can concentrate on the solutions, he said, according to a release.
Coalitions between business, governments and non-governmental organizations are also an important part of the solution, Levene went on to say. “In the modern era, we are able to form new alliances to fight our common threats,” according to the release.
Alliances such as one between Lloyd’s and NATO are needed if solutions to global threats like climate change are to be found, Anders Fogh Rasmussen, Secretary General of NATO, said.
Both Lloyd’s and NATO are in the business of managing risk, Fogh Rasmussen said in his address, according to the release.
“We are both focused on predicting threats, taking steps to reduce their likelihood, and, when necessary, managing the effects,” he said, the release notes.
Risks affect business, governments and non-governmental organizations alike and cut across the divide between the public and private sectors, Fogh Rasmussen added.