Increasing uncertainty, complexities around cyber and best practice in risk cultivation within an organisation were the key topics of debate during a roundtable held by StrategicRISK and CNA Hardy, held in London at the end of November.
So, is this the new norm? The risk managers who participated in the discussion both agreed uncertainty was going to have to be something they had to become more comfortable with when carrying out risk assessments and scenario testing.
In the survey, almost half of UK business leaders predict cyber will be their top concern by spring 2018. Cyber risk was predicted by 48% of respondents to be their top concern by spring 2018, expecting the threat of malware, viruses, hacks or data theft will increase.
As the conversation around cyber and risk evaluation continued, an interesting point began to surface around the potential for there to be a disconnect between the risk manager evaluating the risk and the buyer of insurance.
What we find heartening about this research, despite a diminishing level of confidence in the domestic UK economy, is that business leaders are bullish about continuing to deliver topline growth.