Posts Tagged ‘Marsh & McLennan’



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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March 19th, 2018

Exposure to New Risks

Posted at 1:00 AM ET

Some emerging technologies are exposing organizations to new risks, but few practitioners report a significant impact. Over half of survey respondents report that artificial intelligence is impacting risk exposure at their organizations, although only 14 percent indicate the effect is significant. Data engineering and spreadsheets are also viewed as technologies that will expose companies to new risks.

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March 15th, 2018

Cyber Risk Management Response & Recovery

Posted at 1:00 AM ET

The annual economic cost of cyber-crime is estimated at US$1.5 trillion, yet only an estimated 15% of that loss is currently covered by insurance. Given these staggering economic losses, and the increasing frequency with which attacks occur, it’s no surprise that cyber insurance is increasingly being recognized as a critical tool to enhance cyber resilience. The Organization of Economic Co-operation and Development (OECD) and other policymakers around the world are recommending actions to stimulate cyber insurance adoption.

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March 12th, 2018

Formal Risk Appetite Missing

Posted at 1:00 AM ET

A formal risk appetite statement is missing at a majority of companies, although that could be changing.

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February 28th, 2018

Predictive Analytics Most Likely to Increase Risk Management Efficiency

Posted at 1:00 AM ET

Predictive analytics is a technology being used at some organizations-and being evaluated at others-to manage risk within Treasury and Finance. Two-thirds of survey respondents believe that this technology will increase risk management efficiency.

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February 13th, 2018

Association of Financial Professionals/Marsh & McLennan Risk Survey Report: 2018

Posted at 1:00 AM ET

Finance and treasury professionals are looking to adopt technologies such as artificial intelligence, blockchain and robotic process automation, but few are prepared for the new business risks that may be associated with these technologies - especially cyber, business operations and regulatory risks.

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