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Marsh highlights increasing water supply-related threats to businesses

Rising global populations and increased consumption have triggered water-related challenges across almost every industry around the world, according to a new Marsh report, ‘Water Opportunities and Threats.’

The risks, which vary by industry and geography, include increased cost of production, fines and business constraints due to regulatory requirements, legal costs from possible litigation, investment risk from shareholder demands, changes in the competitive landscape as companies adapt to water constraint, and possible brand and reputation damage.

Use of contaminated water in the production process, or failures in the production process that cause the release of contaminated water may not only result in business interruption losses, but also may lead to losses due to contaminated product recall costs, possible environmental damage, remediation costs, loss of brand, and future sales.

"Organizations need to develop a strategy to better understand and prepare for water-related challenges,” says Ariela Abecassis, consultant, Marsh Risk Consulting. “Companies that have identified and planned for potential risk scenarios are able to recover faster, reduce costs, and demonstrate effective risk management that can increase shareholder confidence.”

Read the report (registration required).

•Date: 25th Jan 2011 • Region: World •Type: Article •Topic: Operational risk

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