lan Transnational & Economic Shifts

Global SRCC Trends

Strikes, Riots, and Civil Commotion (SRCC) events are rising worldwide. High inflation, expensive energy, and food shortages cause these events. Protestors block roads, shut down ports, and damage property. This forces businesses to shut down temporarily. Global insurance companies now treat SRCC as a major risk. They charge higher premiums to cover property damage. From 2020 to 2023, global property damage from civil unrest reached record levels. Supply chains break down when transport workers strike, slowing down global trade.

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Core Context Pillars

Pillar 1

High living costs push citizens to protest in major cities across Europe, Latin America, and Africa.

Pillar 2

Workers at key global transit hubs go on strike to demand better pay, which directly stops cargo ships and delays international trade.

Pillar 3

Global insurance firms group strikes and riots into a specific risk category and raise policy prices for businesses in protest zones.

Pillar 4

Governments respond to these economic disruptions by passing new laws to limit public protests and protect critical transport networks.

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Revision Keywords

SRCC

Stands for Strikes, Riots, and Civil Commotion, acting as the main insurance term for civil unrest.

Lloyds of London

A major British insurance market that issues global guidelines on pricing SRCC risks.

Challenger Events

A term for large-scale riots that cause more than one billion dollars in economic damage.

Port of Felixstowe Strike

A 2022 UK port strike that serves as a key example of trade disruption.

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Perspective Vault

newspaper Insurance Journal open_in_new

World’s Growing Civil Unrest Has an Insurance Sting

newspaper World Economic Forum open_in_new

The cost-of-living crisis is having a global impact. Here’s what countries are doing to help

newspaper United Nations open_in_new