Directors’ risk survey 2015

The IoD, in partnership with Marsh, released their second Directors’ Risk Survey Report in February 2016.

Most directors (56.1%) believe risk is increasing in today’s business environment, with 74.5% of directors saying their boards are spending more time discussing risk management than they were two years ago.

Technological disruption continues to be a prominent business risk, with cyber-risk emerging as a key external risk for the first time. Most directors are confident that they could handle a major IT disruption with 90.6% saying they have a procedure in place to manage, although just 19.4% can manage data loss and even more (35.2%) are not able to keep up with technological advances.

Directors perception of their own personal risks only decreased slightly on 2013 results with reputational risk 61.3% (62% in 2013), being held personally liable for a legislative breach at 39.2% (42% in 2013) and loss of personal assess if called to account at 38.1% (42% in 2013).