The Swiss Re Centre for Global Dialogue has produced a new publication in its Risk Dialogue Series. Critical infrastructure is vital for the functioning of our societies.
The new publication features leading authors addressing the challenges in ensuring the resilience of this infrastructure. They discuss how to mitigate risks posed to food security; telecommunications and the Internet; electricity; transport; long term care; and the role of functioning insurance markets.
The hazards posed to any single facet of critical infrastructure cannot be understood in isolation. Integrative risk management seeks to understand the inter-linkages between different branches of critical infrastructures. A failure to gain a holistic picture of the risks posed to critical infrastructure can weaken societal resilience. The practice of integrative risk management is illustrated here with contributions from the governments of Switzerland and Singapore.
Many critical infrastructure risks are covered by the insurance industry, which provides financial compensation in the face of selected risks. Improved risk mitigation, through integrative risk management approaches, can reduce losses.
Swiss Re covers risks which include damage to production facilities through human or natural causes; mechanical or technological failure; or potential liabilities involving workers, consumers, or the environment. Swiss Re works closely together with its private and public sector clients to reduce potential losses and improve the resilience of critical infrastructure.