- The threat of high corporate taxation is the highest risk, particularly in the US.
- Decreased demand from the US and western economies has reduced business confidence globally.
- Larger organizations are putting a greater priority on risk management, both economic and strategic.
We would add a fourth: smaller organizations are, by their own admission, less prepared than larger organizations for all types of risks. As the report points out, this is a shortcoming in which the insurance industry can play an important role. This role can include education on risks and on methods to mitigate those risks.
We will post additional information from this report on Cyber Risk and Cyber Risk insurance in a subsequent post.