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Global Risk Management Survey - Health | Aon

aon risk Solutions Global Risk Management Survey 2017. Risk. Reinsurance. Risk. Reinsurance. Human Human Resources. Resources. Table of Contents Introduction .. 1. Executive Summary .. 2. Respondent Profile .. 12. Top 10 risks .. 17. Risk readiness for top 10 risks .. 41. Losses associated with the top 10 risks .. 44. Top 10 risks in the next three years .. 47. Risk Management Department and Function.. 52. Who is handling risk? .. 53. The size of the risk Management department.. 55. Perceived rank of risk Management vs. desired rank of risk Management within organizations.

Aon Risk Solutions Global Risk Management Survey 2017 1 Introduction We live in an era of unprecedented volatility . Trends across three major dimensions—economics,

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Transcription of Global Risk Management Survey - Health | Aon

1 aon risk Solutions Global Risk Management Survey 2017. Risk. Reinsurance. Risk. Reinsurance. Human Human Resources. Resources. Table of Contents Introduction .. 1. Executive Summary .. 2. Respondent Profile .. 12. Top 10 risks .. 17. Risk readiness for top 10 risks .. 41. Losses associated with the top 10 risks .. 44. Top 10 risks in the next three years .. 47. Risk Management Department and Function.. 52. Who is handling risk? .. 53. The size of the risk Management department.. 55. Perceived rank of risk Management vs. desired rank of risk Management within organizations.

2 57. Approach to Risk Management , Risk Assessment and Cross-Functional Collaboration.. 58. Policies on risk oversight and Management .. 59. Cross functional collaboration and key risk Management decisions . who is involved? .. 61. How key risk decisions are primarily made .. 62. Additional functions involved in key risk Management decisions .. 64. Identifying and assessing major risks .. 67. Proactivity of organizations in identifying, assessing and managing current and emerging risks .. 68. Methods of evaluating effectiveness of risk Management .. 71. Key Controls and Mitigation.

3 73. Measuring TCOR.. 74. Determining limits of insurance.. 75. Priorities in choice of insurer .. 77. Cyber risk assessment and coverage .. 78. Cyber risk assessment.. 80. Cyber insurance coverage .. 83. Effectiveness of terms and adequacy of limits for current cyber insurance coverage .. 85. Cyber captive utilization.. 89. Captives .. 90. Organizations that use captives.. 91. Reasons for captives.. 95. Key risks underwritten .. 97. Multinational Programs .. 101 Multinational insurance purchasing habits .. 103. Types of multinational insurance coverage purchased.

4 104. Importance to multinational program purchasing decision.. 105. Sources.. 106. Methodology.. 107. Key Contacts.. 108. Introduction We live in an era of unprecedented volatility. The interconnected nature of risk is underscored Trends across three major dimensions economics, by two other risks in our top 10, namely the demographics, and geopolitics combined with failure to attract and retain top talent and the exponential pace of technology change, are the failure to innovate. There is no question converging to create a challenging new reality that organizations are under intense pressure for organizations around the world.

5 While these to attract and retain talent and to maximize the forces create new and sometimes unforeseen productivity of their people. Companies that opportunities, they also create new risks , which cannot appropriately motivate and incentivize their must be managed, often in new ways. workforce will quickly fall behind their competition. Against this backdrop, Aon's 2017 Global At Aon, we believe in the power of data and Risk Management Survey is designed to offer analytics, combined with expert insight, to organizations the insights necessary to compete in provide clients with innovative solutions that help this increasingly complex operating environment.

6 Them manage volatility, reduce risk and realize opportunity. We complement this data driven Conducted in the fourth quarter of 2016, the insight with robust business intelligence, such as bi-annual Survey gathered input from nearly 2000. the Global Risk Management Survey ; we hope you respondents at public and private companies find this year's results insightful and actionable. of all sizes and across a wide range of industries globally, making it Aon's largest to date and one If you have any questions or comments of the most comprehensive surveys globally. about the Survey , or wish to discuss the Survey The 2017 findings from the web-based Survey further, please contact your Aon account underscore that companies are grappling with executive, or visit new risks and that we lack consensus on how to best prioritize and respond to them.

7 Best regards, For the second time running, damage to brand and reputation emerged as the top-ranked risk in our Survey . Political risk/uncertainties has re-entered the top 10 this year and cyber Greg Case President and CEO. risk climbed into the top five. The connection between these two risks has been highlighted by a series of events during 2016 driven by an increase in organized cyber-crime, which directly impacted government institutions, political parties and Global infrastructures. aon risk Solutions Global Risk Management Survey 2017 1. Executive Summary When it comes to political risks , one stereotypically thinks of conflicts in emerging or frontier markets wars in the Middle East; military coups, regime changes or territorial disputes in Asia and Africa; or election turmoil in Latin America.

8 However, this perception no longer holds true, and the trend is shifting. Nowadays, wherever one goes, be it Krakow, or Such sentiments are reflected in Aon's 2017 Global Singapore, some of the perpetual conversation Risk Management Survey , where political risk/. topics among business people are inevitably uncertainties has emerged as a top concern for related to the Brexit negotiations; the elections in Global organizations. Ranked at number 15 in 2015, the Netherlands, France and Germany; President political risk/uncertainties has re-entered the Top 10. Donald Trump and his immigration and risk list.

9 Regionally, organizations in Asia Pacific and centric trade policies; as well as South Korea's Latin America rank the risk much higher than those in presidential impeachment. Interestingly, developed North America, probably due to concerns about the nations, which were traditionally associated with inward-looking policy platforms and protectionism political stability, are becoming new sources of that could harm businesses in their regions. volatility and uncertainty that worry businesses, especially those in the emerging markets. Aon's biennial web-based Survey , one of our many efforts to help organizations stay abreast Globalization is no doubt a contributing factor.

10 It of emerging issues relating to risk Management , has driven greater connectivity, enabling people, features analyses and detailed facts and figures goods and services to move freely improving gleaned from 1,843 organizations. Participants the quality of life, especially for people in the who represent 33 industry sectors in 64 countries developing world. However, globalization has also and regions have been asked to identify and rank triggered backlash from those who have been left key risks that their organizations are facing. behind, prompting populist leaders in the West to pull back and protect what they believe is in In this Survey , we have gathered the largest number their national interest.


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