Global broking giant Marsh & McLennan has broadened its services beyond broking commercial insurance by opening the Marsh Centre for Risk Insights.

The not-for-profit centre will conduct research and offer advice to business leaders about ways of dealing with the wider risks they face, such as climate change, terrorism and the fluctuating price of oil.

The centre has canvassed opinion from 101 leading executives in its first report, which highlights gaps in risk awareness. Research group director John Merkovsky says water availability is the kind of issue that can slip under the radar.

"It's an emerging issue that isn't being well considered."