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 ▪ Summary, conclusions and questions Prepared by Aon 2 Proprietary & Confidential
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 Prepared by Aon 3 Proprietary & Confidential
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 Prepared by Aon 4 Proprietary & Confidential
Respondent Profile Prepared by Aon 5 Proprietary & Confidential
Survey Respondents by Industry Prepared by Aon 6 Proprietary & Confidential
Key findings from the 2019 survey Prepared by Aon 7 Proprietary & Confidential
Global Risk Management Survey Risk Ranking Prepared by Aon 8 Proprietary & Confidential
Top 10 risks Prepared by Aon Prepared by Aon 9 9 Proprietary & Confidential Proprietary & Confidential
Top 10 risks over the past 10 years Prepared by Aon 10 Proprietary & Confidential
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 Please select the review has been mitigation actions for each undertaken. of the top 10 risks (select all that apply) For each of the 10 key risks identified for your organization, please indicate those that have resulted in a loss of income in the past 12 months Prepared by Aon 11 Proprietary & Confidential
Determining limits of insurance by region What is the primary method(s)/ analytic(s) your organization uses to determine what limits of insurance should be purchased? Prepared by Aon 12 Proprietary & Confidential
Regional perspective in the Nordics Prepared by Aon 13 Proprietary & Confidential
Top 10 risks – Nordics Prepared by Aon 14 Proprietary & Confidential
Losses associated with Top 10 risks – Nordics For each of the 10 key risks identified for your organization, please indicate those that have resulted in a loss of income in the past 12 months Prepared by Aon 15 Proprietary & Confidential
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. Prepared by Aon 16 Proprietary & Confidential
Mitigation actions for risks – Nordics Prepared by Aon 17 Proprietary & Confidential
Top 10 risks in the next three years – Nordics Prepared by Aon 18 Proprietary & Confidential
Risk management structure – Nordics Prepared by Aon 19 Proprietary & Confidential
Risk management practice – Nordics Prepared by Aon 20 Proprietary & Confidential
Risk management practice – Nordics Prepared by Aon 21 Proprietary & Confidential
TCoR – Nordics Prepared by Aon 22 Proprietary & Confidential
Risk issue deep dive Prepared by Aon 23 Proprietary & Confidential
Business interruption – ranked no.1 in the Nordics Prepared by Aon 24 Proprietary & Confidential
Accelerated rates of change in market factors – ranked no.5 in the Nordics Prepared by Aon 25 Proprietary & Confidential
Cyber attacks/data breach – ranked no.7 in the Nordics Prepared by Aon 26 Proprietary & Confidential
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.” Prepared by Aon 27 Proprietary & Confidential
Cyber risks - Nordics Prepared by Aon 28 Proprietary & Confidential
Cyber risks - Nordics Prepared by Aon 29 Proprietary & Confidential
Effectiveness of terms of limits for current cyber insurance coverage Do you feel your terms and conditions for cyber coverage are sufficiently effective? Prepared by Aon 30 Proprietary & Confidential
Cyber risks - Nordics Prepared by Aon 31 Proprietary & Confidential
Cyber risks - Nordics Prepared by Aon 33 Proprietary & Confidential
In focus Prepared by Aon 34 Proprietary & Confidential
Summary and conclusions Prepared by Aon 35 Proprietary & Confidential
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