Swiss Re Highlights Cascading Effects of Natural Disasters and Emerging Risks in 2024 SONAR Report

Swiss Re's 2024 SONAR report identifies 16 emerging risks with significant potential impacts on the insurance sector and society. Key risks include cascading effects of natural disasters, weakening supply chain resilience, and the repercussions of underfunded healthcare systems.

The report stresses the compounding effects of natural catastrophes like floods, fires, and storms on critical infrastructure and supply chains, leading to increased loss accumulation. As supply chains become less resilient, the risk of business interruptions and economic slowdowns grows.

Underfunded healthcare systems are also a major concern. In a future pandemic, higher morbidity and mortality rates could result, hampering economic growth. The interconnected nature of these crises underscores the importance of understanding their interactions and dependencies.