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Thought Leadership

Protecting your business against inflationary impacts in the Middle East and Africa

Global volatility due to the outfall from the COVID-19 pandemic and geopolitical instability exasperated by the Russia-Ukraine Crisis is creating the perfect storm. Labour storages, increased commodity prices and supply challenges mean we are now experiencing a surge in inflation around the world and across the Middle East and Africa.

In order to protect your business against inflationary impacts, firms need to address and proactively manage the implications of rising inflation on their organisations via a robust risk management strategy.

The surge in inflation could also impact the adequacy of your current insurance program with the risk of underinsurance a reality.  As asset values increase, your insurance policy needs to accurately reflect their replacement value.

Thought Leadership

Read our latest thinking to find out how businesses in the Middle East and Africa can bolster their organisations resilience against inflationary risks

Businesses are strongly recommend to update the declared values of your assets and exposures, where needed, to account for increases caused by inflation. This may mean modifying your declared values in the interim before your next renewal.

Additionally, businesses should consider extending your indemnity periods for business interruption coverage as labour and good shortages and supply chain constraints have made it harder for businesses to recover from significant asset losses.