January 12, 2011 by Canadian Underwriter
The frequency and severity of risks to global stability have amplified, while the financial crisis has drained the ability of global governance systems to deal with shocks, according to the World Economic Forum (WEF)’s Global Risks 2011, Sixth Edition.
“Twentieth century systems are failing to manage 21st century risks; we need new networked systems to identify and address global risks before they become global crises,” said Robert Greenhill, the WEF’s managing director and chief business officer.
In particular, the report identifies three key clusters of risk that are creating significant liabilities:
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