11 March 2022 [Updated 19 August]
The situation in Ukraine is a generation-defining crisis, with sweeping implications for businesses and organisations in the UK and around the world. Though this resource page, which will be regularly updated, Airmic seeks to provide a risk radar to keep our members and the wider risk and insurance community informed, organised by the following six key themes:
- Cyber and information security
- Economic impact and outlook
- Geopolitics and sanctions
- Insurance
- People and travel
- Supply chain disruption
- General resources on the Ukraine crisis
1. Cyber and information security
- 8 July – National Cyber Security Centre (NCSC): Threat Report 8th July 2022
- 5 July – National Cyber Security Centre (NCSC): Preparing for the long haul: the cyber threat from Russia
- 22 June – Microsoft: Defending Ukraine: Early Lessons from the Cyber War
- 16 June – Center for Strategic and International Studies (CSIS): Cyber War and Ukraine
- 15 June – Atlantic Council: Vladimir Putin’s Ukraine invasion is the world’s first full-scale cyberwar
- 11 May – CYBERUK 2022 Plenary 1: Global response, Global impact: Strategic alignment and collaboration [video recording]
- Regularly updated – NATO: Cyber defence
- 10 May – Reuters: The cyber war between Ukraine and Russia: An overview
- 27 April – Microsoft: The hybrid war in Ukraine
- 6 April – German Marshall Fund: NATO's Role in Global Cyber Security
- March – KPMG: Cyber considerations from the conflict in Ukraine How to stay on top of your cyber security preparedness
- 29 March – UK National Cyber Security Centre (NSCS): Use of Russian technology products and services following the invasion of Ukraine
- 28 March – Lockton: Conflict in Ukraine: Cyberattacks, strengthening defenses & insurance implications
- 24 March – Pool Re: UK Cyber Security: A New Approach?
- 15 March – Oliver Wyman/Marsh McLennan: Countering Cyber Threats in a Time of Conflict
- 15 March – Security Intelligence: CaddyWiper: Third Wiper Malware Targeting Ukrainian Organisations
- 4 March – Oliver Wyman/Marsh McLennan: 3 Cybersecurity Actions to Take Now
- 3 March – UK National Cyber Security Centre (NSCS): NCSC advises organisations to act following Russia's attack on Ukraine
- 24 February – Aon: Addressing Global Cyber Security Concerns Amidst Russian-Ukrainian Geopolitical Tensions: A Proactive Model
- 24 February – Harvard Business Review: The Cybersecurity Risks of an Escalating Russia-Ukraine Conflict
- 9 September 2021 – NSCS: Mitigating malware and ransomware attacks
2. Economic impact and outlook
- 4 August – International Monetary Fund (IMF): Global Current Account Balances Widen Amid War and Pandemic
- 19 July – Chatham House: War on Ukraine: Economic and political reconstruction [video]
- June – KPMG: UK Economic Outlook June 2022
- 28 June – MIT Sloan School of Management: Ripple effects from Russia-Ukraine war test global economies
- 10 June – Food and Agriculture Organization of the UN (FAO): The importance of Ukraine and the Russian Federation for global agricultural markets and the risks associated with the war in Ukraine
- 8 June – OECD: OECD Economic Outlook reveals heavy global price of Russia’s war against Ukraine
- 27 May – US Federal Reserve: The Effect of the War in Ukraine on Global Activity and Inflation
- 13 May – United Nations, Economic Development: Ukraine war squeezes food supplies, drives up prices, threatens vulnerable nations
- 10 May – OECD: Impacts of the Russian invasion of Ukraine on financial market conditions and resilience
- 4 May – OECD: International investment implications of Russia’s war against Ukraine
- 26 April – World Economic Forum: These 3 charts show the impact of war in Ukraine on global trade
- 19 April – International Monetary Fund (IMF): World Economic Outlook April 2022: War sets back the global recovery
- 13 April – OECD: The global implications of the Ukraine crisis, with Laurence Boone [podcast]
- 5 March – KPMG: Global Economic Outlook April 2022
- 16 March – Howden: Special Report: A Macro view of the crisis in Ukraine
- 15 March – International Monetary Fund: How War in Ukraine Is Reverberating Across World's Regions
- 15 March – S&P Global Ratings: Russia-Ukraine Macro, Market, & Credit Risks
- 4 March – Oliver Wyman/Marsh McLennan: Ten watchpoints for financial services on the war in Ukraine
- 3 March – The Economist Intelligence Unit (EIU): Global economic implications of the Russia-Ukraine war
- 25 February – CBI: The Economic Impact of conflict in Ukraine
- 24 February – Control Risks: On-Demand/ Expert Briefing: Ukraine-Russia [webinar recording: free to watch upon sharing contact details]
3. Geopolitics and sanctions
- 11 August – Brookings Institute: Germany is now the fulcrum for Vladimir Putin’s pressure
- 10 August – Foreign Policy: How to Take Down a Tyrant Three steps for exerting maximum economic pressure on Putin
- 4 August – Chatham House: War in Ukraine: Rebuilding Ukraine
- 21 July – Project Syndicate: The Problem with the Current Russia Sanctions Regime
- 20 July – Herbert Smith Freehills: Sanctions tracker: new UK sanctions legislation, sanctions enforcement updates and more
- 15 July – Chatham House: What is the Eurasian Economic Union?
- 14 July – Foreign Policy: The NATO-Russia Founding Act Is Hanging by a Thread
- 6 July – International Monetary Fund (IMF): Patricia Clavin on Turbulence and Lessons from History [podcast]
- 22 June – Center for Strategic and International Studies (CSIS): Strangling the Bear? The Sanctions on Russia after Four Months
- 21 June – Marsh/BRINK: Europe’s New Security Posture
- 7 June – Carnegie Endowment for International Peace: What NATO Needs to Do Before Finland and Sweden Join
- 23 May – Chatham House: What would be the impact of Finland and Sweden joining NATO?
- May – University of Cambridge Centre for Geopolitics: On Geopolitics – Ukraine: Is China on Russia's Side? Which Other States Might be? [podcast]
- 27 April – Council on Foreign Relations: Update on Ukraine, With Richard Haass [podcast]
- 26 April – Foreign Policy: Why Xi Is Trapped in Ukraine
- Regularly updated – UK Government: Russian invasion of Ukraine: UK government response
- 26 April – Chatham House: How are war crimes prosecuted? [video]
- 25 April – Chatham House: How Ukraine will change Europe's Indo-Pacific ambitions
- 21 April – WTW: Political Risk Insurance and Ukraine – pouring oil on troubled waters
- 19 April – BBC Radio 4: Ukraine: Where’s the Line? [recording]
- 5 April – Geopolitical Futures: How the Ukraine War Will Likely End
- 1 April – Council on Foreign Relations: Backgrounder – Ukraine: Conflict at the Crossroads of Europe and Russia
- Regularly updated – Office of Foreign Assets Control (OFAC), US Treasury: Ukraine-/Russia-related Sanctions [including email updates to sign up for]
- March – KPMG: The geopolitical impact of the conflict in Ukraine: Five trends to help businesses manage the potential risks to global security and prosperity
- 31 March – WTW: 2022 Political Risk Survey Report
- 25 March – KPMG: Ukraine crisis: what global geopolitical volatility means for business [podcast]
- 25 March – Chatham House: Russia, Ukraine, and cryptocurrency as a tool of war [video]
- 25 March – Yale School of Management: Over 400 Companies Have Withdrawn from Russia—But Some Remain
- 23 March – Chatham House: War on Ukraine: Nuclear threats and realities [webinar recording]
- 23 March – EIU: Ten ways the war in Ukraine will change the world
- 17 March – Herbert Smith Freehills: Sanctions tracker – Latest moves include fast-tracked UK Economic Crime act and EU's fourth round of measures
- 8 March – Control Risks: Contract risk is high and rising for Russia as sanctions are implemented, expansion considered
- 4 March – WTW: Russia-Ukraine conflict: What does this mean for financial institutions?
- 2 March – Verisk Maplecroft: Ukraine crisis upends energy geopolitics
- February – Mercer/Marsh McLennan: Peering through the fog: Examining prior examples of the impact of geopolitics on financial markets in light of current market events
4. Insurance
- 16 August – Mactavish: Managing risk and safeguarding business resilience in a time of crisis
- 27 July – Reuters: Lloyd's insurers preparing to cover Ukraine grain-chairman
- 27 July – Lloyd's: The role of the insurance industry (from the report "Ukraine: A conflict that changed the world")
- 6 June – Howden: Ukraine war and cyber resilience combine to temper global ransomware activity, according to new Howden cyber report
- 1 June – Sustainalytics: Russia-Ukraine Crisis Could Spell Unforeseen ESG Risks for Insurers
- 13 May – Paragon: How does War, Terrorism, and/or Political Violence impact potential coverage under property insurance or cyber insurance?
- 10 May – Allianz: "We do not expect a major wave of claims": Russia's invasion of Ukraine: Potential impact for insurance and claims
- 12 April – Lloyd’s: Tuesdays with Lloyd's - Live from RIMS! (on emerging risks, including the impact of the war in Ukraine on global (re)insurance markets) [video]
- 31 March – Lockton: Conflict in Ukraine impacts global trade risks
- 10 March – Crawford: Technical update 1: Ukraine
- 3 March – Lockton: Russia, Ukraine, cyber insurance & the war exclusion
- 3 March – Marsh: Ukraine crisis: Property insurance considerations
- 24 February – WTW: Crisis in Ukraine: Cybersecurity risks and cyberinsurance implications
- February – Association of British Insurers (ABI): Ukraine crisis [updates and insights]
- 25 November 2021 – Lloyd’s Market Association: Cyber War and Cyber Operation Exclusion Clauses
5. People and travel
- July (updated) – United Nations Office on Drugs and Crime: Conflict in Ukraine: Key evidence on risks of trafficking in persons and smuggling of migrants
- 15 July – UK Office for National Statistics (ONS): Ukraine crisis: How the ONS has responded to the need for better information
- 13 July – House of Commons Library: Ukraine crisis 2022: Aid and refugees
- Regularly updated – International Committee of the Red Cross: Humanitarian crisis in Ukraine and neighbouring countries
- 22 April – Center for Strategic and International Studies (CSIS): War amid a Pandemic: The Public Health Consequences of Russia’s Invasion of Ukraine
- 8 April – Institute for Government: Ukraine crisis: UK support for refugees from Ukraine
- 6 April – People Management: How Ukrainian HR is working through war
- 17 March – McKinsey & Co: War in Ukraine: Lives and livelihoods, lost and disrupted
- 7 March – Marsh: Supporting your employees during the Russia-Ukraine crisis
- 5 March – International SOS: Supporting your Employees in Ukraine and Bordering Countries
- February – International SOS: Evacuee packing list
- February – International SOS: Ukraine/Russia conflict: Considerations for sheltering in place
6. Supply chain disruption
- 2 August – BBC: Why does the world need grain to be shipped from Ukraine?
- 18 July – House of Commons Library: Research Briefing – The effect of the war in Ukraine on UK farming and food production
- 14 July – Reuters: Ukraine, Russia see positive signs for grain deal; wheat prices ease
- 14 June – Brookings: The war in Ukraine triggered a global food shortage
- 10 June – IHS Markit: Russia-Ukraine war could amplify supply chain woes
- May – Allianz: Impact of Ukraine war on global shipping
- 24 May – World Economic Forum: How to reinvent supply chains in a new global economic order
- 4 May – Raconteur: System shock: supply chains suffer in Russia-Ukraine war
- 3 May – Fitch: Russia–Ukraine Crisis Disrupts European Aerospace Supply Chains
- April – KPMG: Supply chain considerations from the conflict in Ukraine How to stay on top of your supply chain
- 14 April – Kroll: Contingency Planning for Geopolitical Supply Chain Shocks
- 13 April – Chatham House: The Ukraine war and threats to food and energy security
- 18 March – Crawford: The impact of the Russia-Ukraine war on agriculture supply chains and claims costs
- 17 March – Harvard Business Review: How the War in Ukraine Is Further Disrupting Global Supply Chains
- 16 March – Chatham House: Ukraine crisis could trigger cascading risks globally
- 9 March – Reuters: Ukraine conflict adds to European supply chain snags
- 25 February – Department for Business, Energy & Industrial Strategy: Russia-Ukraine and UK energy: factsheet
- Energy and Climate Intelligence Unit: Ukraine conflict and impacts on UK energy
- February – Lloyd's List: Ukraine crisis [resource page]
7. General resource pages on the Ukraine crisis (regularly updated unless dated)
- International Atomic Energy Agency (IAEA) – Nuclear Safety and Security in Ukraine
- 27 July – Lloyd's: A conflict that changed the world – Lloyd’s Futureset explores the medium to long term consequences of the Ukraine crisis on the risk landscape
- McKinsey Sustainability: The net-zero transition in the wake of the war in Ukraine: A detour, a derailment, or a different path?
- Clyde & Co: Crisis in Ukraine
- 28 April – WTW: The Ukraine crisis and what it might mean for ESG and sustainable investing
- 28 April – Zurich: Four ways the conflict in Ukraine will change the approach to risk management
- Kroll: Navigating Uncertainty During the War on Ukraine [resource page]
- March – KPMG: Ukraine conflict: Boardroom considerations
- 29 March – Marsh: Building resilience in time of crisis
- 17 March – EIU: Five ways in which the war in Ukraine will change business [free to download upon sharing contact details]
- 16 March – Baker Tilly: Crisis management: three things all businesses should review now
- Control Risks: Ukraine-Russia Monitor: Key Developments | Threat Scenarios [free to receive upon sharing contact details]
- Marsh McLennan: Ukraine: Navigating an international crisis
- Oxford Analytica: Resources: The Ukraine-Russia crisis