Aon has recently released its
2017 Global Risk Management Survey indicating risk trends and
insights, based on a survey of over 2000 risk decision makers from
more than 33 industry sectors and 60 countries globally.
Responding risk managers, CROs and CFOs provided feedback and
insight on their insurance and risk management choices, interests
and concerns in relation to quantitative and qualitative risk
issues.
The survey reports damage to reputation as the
biggest global risk for 2017. This is said to reflect an explosion
in the number of product scandals and recalls, the effects of which
have been felt more intensely by organisations due to the ease with
which the issues become newsworthy through social media platforms.
This 'new face' to an old risk is particularly significant
given the popularity of class actions in Australia and the ease
with which customer complaints can gain traction online, turning
critical events into uncontrollable crises. This risk is
