Lloyd’s spells out need to understand unique and complex terrorism threat

Businesses that operate in southeast Asia need to understand better that the Asian terrorism threat is unique, complex and specific to the region, according to a new report from Lloyd’s and the International Institute for Strategic Studies (IISS).

Terrorism in Asia: What does it mean for business? warns that locally specific threats, such as criminal gangs with political objectives, are superseding traditional forms of terrorism in Asia, and businesses need to respond. The research found that the main risk factors for businesses operating in southeast Asia were proximity to western targets, such as embassies, high commissions and hotels, kidnapping of employees, and threats to transport routes and supply chains. The report outlines five practical actions that businesses can take to minimise the threat from a terrorist attack:

• Gather high quality information from the right source to guide strategy and operations.

• Choose locations wisely – consider the risk of indirect damage.

• Adopt security as good practice, not a burden.

• Protect supply chains.

• Engage with local communities and understand local customs and traditions.