You’d think the UK’s infrastructure is top-notch – yet in a study by insurer
QBE, it’s among the factors that have pulled the country down in terms of supply chain security.
A report by the
Financial Times said out of the 15 European nations assessed by the insurance firm, the UK ranked 12th overall. According to QBE, the results highlight which markets had the fewest and most threats for those managing a business supply chain, underlining the level of potential exposure to business interruption.
The Netherlands, Switzerland, and Sweden topped the list, while the bottom three – after the UK – were Spain, Italy, and Greece. The UK had a poor showing when it came to infrastructure risks, offsetting its better scores for cyber, environmental, and economic factors.
“The UK’s infrastructure lags behind many European peers which is unacceptable for a country of our economic aspirations,” said Richard Pryce, chief executive of QBE’s European operations, as quoted by the
Financial Times.
Pryce added: “With Brexit fast approaching, it is more important than ever that the country is able to move components and goods in and out of the UK. The survey shows just how far behind the UK is with our northern European neighbours.”
Aside from infrastructure, the UK also has political risks to zero in on. While it did well in terms of political stability and the rule of law, the threat of terrorist attacks dragged down its overall political risks performance.
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