Risk management still absent from the boardroom
A survey by insurance broker Marsh UK finds only 30% of risk managers believe risk management is consistently taken into account by company directors in Europe. Another 22% say it rarely or never happens.
Asked how they measure the value of risk management, 35% say it is measured by the impact on “cost of risk” while 25% ascribe the value to reduced incidents or losses.
Some 5% specifically cited reduced insurance premiums.
Marsh’s Risk Advisory Group Leader Eddie McLaughlin says the research shows risk management “has some way to go” before achieving full recognition in the boardroom.
Asked how they measure the value of risk management, 35% say it is measured by the impact on “cost of risk” while 25% ascribe the value to reduced incidents or losses.
Some 5% specifically cited reduced insurance premiums.
Marsh’s Risk Advisory Group Leader Eddie McLaughlin says the research shows risk management “has some way to go” before achieving full recognition in the boardroom.