The latest enterprise risk management news from around the world
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Risk agility has the ability to maximize growth in the near-term, but aligning agility with risk resiliency will give companies the greatest competitive edge in the long-term, according to a new study from PwC US entitled, ‘Risk in review: Going the distance’.
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While the majority of global organizations say that it is ‘vital’ their organisation is insured against information security breaches, less than half (41 percent) are fully covered for both security breaches and data loss and just over a third have dedicated cybersecurity insurance.
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New EU data protection rules were given their final approval by MEPs on Thursday and the countdown for European-based organizations to manage the compliance risk has started. The European Parliament’s vote ends more than four years of work on a complete overhaul of EU data protection rules.
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A formal risk appetite and risk tolerance statement can become a powerful strategic tool for not only managing risk but also for maintaining an effective balance between risk and reward: according to RIMS’ newly released Executive Report ‘Steps to Successful Risk Taking: Developing an Effective Risk Appetite and Risk Tolerance Statement.’
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Aon Global Risk Consulting has published its 2016 Captive Cyber Survey report, which finds that the costs of business interruption due to a breach is the top cyber risk concern for businesses across all industries.
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Marsh and RIMS have jointly published the 13th annual Excellence in Risk Management report, which finds that, while risk professionals are increasingly relied upon to identify and assess emerging risks, there remain organizational and other barriers to providing that critical view ‘around the corner.
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Aon Risk Solutions has published its annual Terrorism and Political Violence Map, which confirms that 2015 was the most lethal year for terrorist violence in Europe in nearly a decade as terrorists increasingly target private citizens and public gatherings. This marks the first net increase in global terrorism risk ratings since 2013
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Support for the UK remaining a member of the European Union has risen among chief financial officers (CFOs) of the UK’s largest companies, according to Deloitte’s latest CFO Survey.
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Due to declines in property and liability costs and overall risk management costs, businesses paid 2 percent less in 2015 than they did in 2014 to cover the total cost of risk (TCOR), according to the 2016 RIMS Benchmark Survey.
