Posts Tagged ‘Marsh & McLennan’



October 4th, 2018

Marsh & McLennan Cyber Resilience Insights Microsite

Posted at 1:00 AM ET

As we enter National Cybersecurity Awareness Month, a new resource from Marsh & McLennan Companies collates the best insights on cyber resilience from across the firm and its strategic cyber partnerships. Continue reading…

September 27th, 2018

Cyberattack – Limiting Financial losses

Posted at 1:00 AM ET

In the event of a debilitating attack, cyber insurance and associated services can limit an organization’s financial damage from direct and indirect costs and help accelerate its recovery.

In the study Cyber Risk Management: Response and Recovery, from Marsh & McLennan Companies Global Risk Center and WomenCorporateDirectors, an example is provided that as a result of the NotPetya attack, one global company reported a decline in operating margins and income, with losses in excess of USD500 million in a fiscal year. Continue reading…

July 16th, 2018

In Risk Management ‘Tried’ Technology Has Staying Power

Posted at 1:00 AM ET

Treasury and financial managers remain hesitant to try newer and more efficient risk management tools. A survey of finance professionals found that 97 percent use spreadsheets to manage risk while only 28 percent believe they are efficient risk management tools; this according to the 2018 Association for Financial Professionals (AFP) Risk Survey, which was produced in collaboration with Marsh & McLennan Companies Global Risk Center. Continue reading…

June 12th, 2018

A Heightened Focus on Cyber Response and Recovery

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Over a third of directors of U.S. public companies now discuss cybersecurity at every board meeting. Cyber risks are being driven onto the agenda by high-profile data breaches, distributed denial of services (DDoS) attacks and rising ransomware and cyber extortion attacks. The concern about cyber risks is justified. The annual economic cost of cyber-crime is estimated at USD 1.5 trillion and only about 15 percent of that loss is currently covered by insurance.

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May 9th, 2018

Digitizing the Risk Function is a Strategic Imperative

Posted at 1:00 AM ET

As organizations navigate unpredictable economic headwinds, a rapidly-evolving technology landscape and shifting socio-political and regulatory trends, risk management is becoming an increasingly crucial function. In order for the risk function to properly manage the uncertainty ahead, it is crucial that it recognize the large technology dividend to be gained by leveraging three key capabilities: data, analytics and process automation.

Despite budgetary constraints and lack of support from senior management, the long-term benefits of these technologies both for the risk function and the organization will greatly outweigh their initial costs. “Targeting a Technology Dividend in Risk Management,” a new report from the Marsh & McLennan Companies Asia-Pacific Risk Center and the Pan-Asia Risk and Insurance Management Association (PARIMA), explains the why and how of digitizing the risk function.

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April 19th, 2018

Cyber Insurance Adoption is Increasing

Posted at 1:00 AM ET

The role of insurance in enhancing cyber resilience is increasingly being recognized by policymakers around the world, and the Organisation of Economic Co-operation and Development is recommending actions to stimulate cyber insurance adoption. Globally, it is expected the level of future demand for cyber insurance will depend on the frequency of high-profile cyber incidents as well as the evolving legislative and regulatory environment for privacy protections in many countries. In India, for example, there was a 50 percent increase in companies buying cybersecurity coverage from 2016 to 2017.

A new report from Marsh & McLennan’s Global Risk Center and WomenCorporateDirectors outlines everything directors need to know to position cyber insurance within a comprehensive risk management framework.

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April 5th, 2018

Organizations Have Made Some Revisions in Risk Mitigation Approaches in Response to New Technologies

Posted at 1:00 AM ET

While treasury and finance professionals are managing risks associated with technology enhancements at their companies, 28 percent report that their organizations have not taken steps to revise their approach to risk mitigation in response to increased risks. Fifteen percent of respondents confirm their companies have revised their risk mitigation approaches significantly to combat these new or increased risks. The remaining 57 percent of companies have made some revisions to their risk mitigation strategies.

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April 4th, 2018

Cyber Risk Management: Ten Questions to Ask Management About Your Organization’s Cyber Readiness

Posted at 1:00 AM ET

The annual economic cost of cyber-crime is estimated at USD 1.5 trillion and only an estimated 15 percent of that loss is currently covered by insurance. When the next cyberattack comes-and it is a “when,” not an “if”-boards want to be reassured that their organization is prepared to respond and mitigate the damage.

However, research by WomenCorporateDirectors (WCD) and the Marsh & McLennan Companies Global Risk Center suggests that many directors are unclear about how cyber insurance can enhance their organizations’ cyber risk management framework.

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March 26th, 2018

Cybersecurity Risks on Radar

Posted at 1:00 AM ET

Cybersecurity risks are increasingly being managed as a result of growing use of technology. Organizations’ Treasury and Finance functions are tasked with managing risks resulting from recent technology adoptions. Three-fourths of corporate practitioners report that cybersecurity risks have surfaced at their companies as a result of the increased use of new technologies. Slightly less than half cite operational risk as a concern (47 percent), followed by business continuation (41 percent).

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