Directors Risk Survey Report 2015: Key Risk Concerns for Directors
Marsh is delighted to present our second risk survey report for directors in partnership with the Institute of Directors.The survey was conducted in November 2015 with 526 responses from directors across New Zealand.
Directors were asked their views on a wide range of risk issues from directors and officers liability through to their boards' involvement in risk. The results were benchmarked with our 2013 report.
The key risk issues identified in our 2015 report were:
- 56.1% of directors believe risk is increasing in today’s business environment
- 74.5% of directors say their boards are spending more time discussing risks than they were two years ago
- 35.2% of directors say they are not able to keep up with technological advances
- 61.3% of directors rated “reputational risk surrounding you as an individual” as their biggest personal risk concern
- Cyber risk was a key external risk for the first time in the survey
- Increasing corporate governance requirements is the biggest emerging risk over the next 24 months