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2019 Global Risk Management Survey Prepared by Aon Agenda Global - - PowerPoint PPT Presentation
2019 Global Risk Management Survey Prepared by Aon Agenda Global - - PowerPoint PPT Presentation
2019 Global Risk Management Survey Prepared by Aon Agenda Global Risk Management Survey overview 2019 the headlines Respondent profile Key findings Regional perspective for the Nordics Risk issue deep dive
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Survey overview
▪ Global Risk Management Survey 2019 is the seventh of its kind since 2007 ▪ Designed to offer insights to organisations to enable better management of risk related volatility . ▪ Conducted biennially, the survey gathered input from 2,672 respondents, in 8 languages, covering 60 countries and 33 industries, at public and private companies of all sizes ▪ The survey covers: – current and developing risks; – composition and activities of the risk department; – approach to risk management; – key controls and mitigation, including cyber risk and captives ▪ How does Aon use the survey with clients?: – benchmarking – validation of risk registers – insights into risks associated with business change – identification of product development requirements
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The headlines
▪ “Risk readiness” is at an all-time low ▪ Difficulty in quantifying risk and returns is connected to this trend ▪ The risk profile of companies is changing and accelerating – one third of the top 15 risks are either new or re-entries ▪ Market turmoil underpins many of the main risk concerns of companies – volatile stock markets, US interest rates, slowing growth, Brexit, the geopolitical climate ▪ Financial risks are trending highly as a result – economic slowdown, cash flow, liquidity, volatile commodity prices ▪ Natural disasters and a series of manmade events, including cyber, has triggered a refocus on business interruption ▪ Reputation remains a key concern ▪ Risks are interconnected
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Respondent Profile
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Survey Respondents by Industry
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Key findings from the 2019 survey
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Global Risk Management Survey Risk Ranking
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Top 10 risks
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Top 10 risks over the past 10 years
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Risk readiness – Mitigation of Risk - Losses
For each of the 10 key risks identified for your organization please indicate whether a plan is in place or a formal review has been undertaken. Please select the mitigation actions for each
- f the top 10
risks (select all that apply) For each of the 10 key risks identified for your
- rganization,
please indicate those that have resulted in a loss
- f income in the
past 12 months
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What is the primary method(s)/ analytic(s) your
- rganization uses
to determine what limits of insurance should be purchased?
Determining limits of insurance by region
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Regional perspective in the Nordics
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Top 10 risks – Nordics
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Losses associated with Top 10 risks – Nordics
For each of the 10 key risks identified for your
- rganization,
please indicate those that have resulted in a loss
- f income in the
past 12 months
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Risk readiness for Top 10 risks – Nordics
For each of the 10 key risks identified for your organization please indicate whether a plan is in place or a formal review has been undertaken.
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Mitigation actions for risks – Nordics
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Top 10 risks in the next three years – Nordics
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Risk management structure – Nordics
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Risk management practice – Nordics
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Risk management practice – Nordics
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TCoR – Nordics
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Risk issue deep dive
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Business interruption – ranked no.1 in the Nordics
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Accelerated rates of change in market factors – ranked no.5 in the Nordics
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Cyber attacks/data breach – ranked no.7 in the Nordics
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Cyber attacks/data breach – example of losses
“Drygt 700 miljoner kronor – där någonstans räknar Norsk Hydro med att slutnotan för cyberattacken som företaget utsattes för landar.” “British Airways och Marriott har dessutom fått addera dryga GDPR-böter till kostnaderna för själva dataintrången som de utsatts för. British Airways ska betala så mycket som 183 miljoner pund, vilket motsvarar 2,2 miljarder svenska kronor i böter. Marriott väntas få böter på 99 miljoner pund, nästan 1,2 miljarder kronor.”
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Cyber risks - Nordics
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Cyber risks - Nordics
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Effectiveness of terms of limits for current cyber insurance coverage
Do you feel your terms and conditions for cyber coverage are sufficiently effective?
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Cyber risks - Nordics
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Cyber risks - Nordics
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In focus
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