NU Online News Service, July 19, 3:47 p.m. EDT

While globalization has brought many benefits to businesses, companies need to spend more time studying the new and emerging risks and planning for low-probability events, according to Lloyd's.

In its latest 360 Insight Report, "Globalization and Risks For Business: Implications of an Increasingly Interconnected World," Lloyd's noted that increased globalization in the last 20 years has rapidly integrated societies and economies, offering unprecedented opportunities for success and a range of new risks for business to contend with.

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