Are insurance buying strategies linked to risk appetite or are boards being led by fear where data isn’t present? WTW's article investigates the suggestion that insurance buying decisions are being driven by fear due to a lack of data driven advice. The piece explores the mind of the director, results from the WTW Global D&O survey, and suggestions for board members moving forward.
Controlling risk within a firm is a constant battle for risk managers and their boards. They are faced with regular reminders of the risks they are exposed to, under pressure from shareholders to make financial returns and have the potential of personal scrutiny looming over them from the regulator.
Given the consistency of this pressure, WTW's Alicia Drewitt notes that it was interesting to see a marked increase in the perception of risk felt by directors in WTW’s Global Directors’ and Officers’ Survey Report 2024.
WTW’s Global D&O Survey is published annually and aims to identify and analyse the top risks perceived by directors and officers worldwide, tracking shifts in risk priorities and uncovering emerging threats.
The recent blog post breaks down some results from the survey, particularly with comparison to the 2023 study, yielding insights on risk perception, risk aversion, and the overall risk appetite of boards.
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Follow the link here to read the full blog post.
About WTW
Willis Towers Watson (WTW) is a global leader in advisory, broking, and risk management solutions. With nearly 200 years of experience and 45,000 employees in over 140 countries, WTW helps businesses turn risks into growth opportunities by providing tailored solutions for intricate risk profiles. WTW’s offerings, including professional liability, D&O insurance, cyber risk, and M&A-related insurances, directly address the risks and challenges faced by today’s NEDs. NEDA are proud to be working in partnership with WTW.
Ensuring your board receives the data it needs to make sound decisions is critical. Contact WTW to empower your board and develop an insurance strategy fit for your firm.