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Fiscal crises top global business concerns
Fiscal crises top global business concerns, followed by cyberattacks and unemployment, according to a recent report by the World Economic Forum. The study said that the world economy had been seen flatter since the financial crisis of 2008–2009, but over the past year symptoms of a fragile economy had become more evident. For example, in…
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Cyber risk education gap persists
While most businesses are well aware of the risk of cyberattack too few deal with the cyber risk education gap in their enterprises, according to the Chubb Cyber Risk Survey 2019. The report said that companies had established better safeguards against cyberattacks over the past decade. Yet effective staff training for cyber risk remained a…
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Register for Risk Leaders 2019 now
A Decade of Discovery & Disruption 10th annual conference | 14 November 2019 | Inmarsat, London What are the real risk issues for boards today? Are they pre-occupied with fighting short term tactical battles while missing some big picture changes like digital disruption and climate change? Or are these sorts of risks just too big…
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Government forced to publish Brexit risk scenarios
The UK government has been forced by Members of Parliament to publish its Brexit risk assumptions code-named Operation Yellowhammer. While the government says that the assumptions are out of date because of subsequent efforts to mitigate Brexit risks, the document paints a picture of uncertainty for businesses and citizens alike if a deal is not…
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Executives in cyberattack firing line
Members of the so-called C-suite – executives such as chief risk officer, chief finance officer, and so on – were twelve times more likely to be the target of social cyberattack incidents over the last twelve months, according to the latest Verizon study. They were also nine times more likely to be the target of…
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Water crises becoming more common
Water crises in many parts of the world are becoming more common, according to recent research by the World Resources Institute (WRI). The impact of water crises has been ranked fourth out of all risks in terms of severity by the World Economic Forum’s Global risk report 2019. Data analysis derived from WRI’s Aqueduct tools reveal that 17…
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Cyber insurance underused
Businesses are finding it difficult to protect themselves against the increasingly diverse range of tactics deployed by cyber criminals and cyber insurance is underused. Recently, organisations have experienced a rise in destructive malware attacks, for instance, which are designed to shut down information access and obliterate system functions on victim machines. To find insurance policies…
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Businesses fail to quantify risk
While businesses manage risk in a wide variety of ways, too many are not quantifying the threats they face, according to Aon’s Global risk management survey 2019. In a wide-ranging report of global businesses, it found that only 24 percent of respondents said they quantify their top 10 risks. In addition, only 20 percent used…
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Humans and AI together
In 2021, artificial intelligence (AI) augmentation will create $2.9 trillion of business value and 6.2 billion hours of worker productivity globally, according to Gartner, the research analyst. Gartner says augmented intelligence, which it defines as ”a human-centred partnership model of people and AI working together to enhance cognitive performance” will predominate the AI field over…
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Making the investment case for ERM
By Sam Elwell We are seeing a growing recognition of the importance of Enterprise Risk Management (ERM). Businesses are increasingly deciding to carve ERM out as a standalone function. Even where ERM is not mandatory, businesses see the potential impact ERM could have on culture, behaviour and performance. We aren’t just talking about small businesses.…
