Lord Levene cited the threat to energy security, technology security and attacks from home-grown terrorists as emerging areas of risk.
“Public-private partnership is the best way to manage the modern terrorism risk,” said Lord Levene at the Royal United Services Institute for Defence and Security Studies annual resilience conference in London.
“The partnerships that work best tend to be those which involve close consultation between governments and insurers,” Lord Levene added.
Lord Levene also spoke of the need to raise corporate risk awareness, highlighted by a survey of global business leaders undertaken by Lloyd’s, together with the Economist Intelligence Unit, as part of the 360˚ Risk Project.
“The majority of business leaders believe that political violence risk will increase worldwide over the next five years, but only one in three say their companies have a strong understanding of these risks,” Lord Levene noted.