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Willis Towers Watson 6th Directors' Liability Survey – What are the top risks facing Directors and Officers?

At a time when regulators and investigatory authorities are focusing unprecedented attention on personal accountability for company directors, the sixth edition of the report on directors’ liabilities has been published. A joint effort by the global risk management brokerage and advisory firm Willis Towers Watson and the international law firm Allen & Overy LLP, it is an exercise that investigates boardroom attitudes to risk.

Here are some of the key findings of the report:

  • 51% of public companies experienced a cyber attack or data loss last year, up considerably on the 30% that did so in 2017.
  • For the first time, cyber attack and data loss/breach tops the list of risks directors are most concerned about, overtaking regulatory and other investigations.
  • 43% of large employers have experienced a regulatory claim involving a director in the last 12 months, and 38% of listed companies.
  • The regulatory focus on personal accountability is changing company behaviour, with 60% saying it is impacting decision-making processes.
  • 75% of UK respondents point to growing economic and geopolitical risks impacting their firms, compared to just 47% of respondents in non-UK companies.
  • Health and safety legislation impacting on a company’s business is now a significant concern for 37% of respondents, as against just 18% of those surveyed last year.
  • Looking at policy terms, the biggest concern for the first time ever is whether a D&O policy will be able to respond to claims in all jurisdictions.

To read the full report follow the link above.

 
 
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