Reputation tops Aon’s risk table
Brand and image are the greatest risk concerns for Australian businesses, says leading broker Aon Australia in its latest risk survey.
The sixth annual risk report reveals a growing awareness of risk, with 17 of the 20 risks cited by respondents increasing in importance.
But less than one-third of the 271 businesses surveyed have an enterprise-wide approach to risk, with more than half relying on a top-down approach led by senior management.
The top 10 risks identified in the survey are brand and image, systems, corporate governance, HR, information management, business interruption, legal, market environment, lack of innovation and the impact of regulations.
The report also reveals customers look for quality and breadth of coverage, dependability and price competitiveness when choosing their insurer.
And the cost of risk is on the decline, with the median total cost of insurable risk down 8% to $6.14 per $1000 of revenue.
The sixth annual risk report reveals a growing awareness of risk, with 17 of the 20 risks cited by respondents increasing in importance.
But less than one-third of the 271 businesses surveyed have an enterprise-wide approach to risk, with more than half relying on a top-down approach led by senior management.
The top 10 risks identified in the survey are brand and image, systems, corporate governance, HR, information management, business interruption, legal, market environment, lack of innovation and the impact of regulations.
The report also reveals customers look for quality and breadth of coverage, dependability and price competitiveness when choosing their insurer.
And the cost of risk is on the decline, with the median total cost of insurable risk down 8% to $6.14 per $1000 of revenue.