Allianz predicts an increase in social unrest

Allianz Global Corporate & Specialty (AGCS), a subsidiary of the German insurer of the same name, predicts an increase in social unrest starting 1 July 2022. The rising cost of living will lead to demonstrations and strikes that could turn into riots.

The disruption of the supply chain [4] and the rising cost of living during and after the health crisis are the main causes of social unrest. Fragile institutions, lack of trust in usual sources of information and the exorbitant power of social networks may also be factors in triggering social unrest.

According to Srdjan Todorovic, director of crisis management for the UK and Nordic countries at AGCS, social unrest now ranks ahead of terrorism risk for companies. Mass unrest usually causes very high business losses and property damage.