Roundtable: A new age of risk uncertainty

CNA Hardy teamed up with Strategic Risk Europe magazine to host a round table on A New Age of Risk Uncertainty. CEO Dave Brosnan and CUO Patrick Gage were joined by Paul Jack, Partner at Lockton; Ailsa King, the Chief Client Officer at Marsh; Steve Boaler, the Strategic Risk and Assurance Manager at Eversholt Rail Group and Adrian Clements, GM Operational Risk Management at ArcelorMittal.

The discussion centred on the key findings from our Risk & Confidence Survey Autumn 2017, highlighted include:

• The decrease in business confidence in the past six months amongst multinational business leaders (a drop from 71% in our Spring survey to 28% in Autumn 2017). Brexit, political and economic factors are major contributors to this uncertainty, with the participants agreeing that uncertainty was the new norm and something that they will have to become more comfortable with when carrying out risk assessments and scenario testing in future.

• Businesses are still pressing ahead with growth plans, with 62% actively hiring new staff, 52% investing in R&D and 51% prioritising topline growth, with a particular focus on expanding in overseas markets, particularly Europe and Asia. The panel identified the importance of partnerships between business and the insurance industry to navigate risks and enable the growth potential of overseas markets.

• Almost half of multinational business leaders predicting cyber as their top concern by 2018, which participants said was an incredibly difficult risk to navigate. Issues identified by the panel include the new and ever-evolving threat that cyber poses, the difficulty in buying the right protection and a lack of clarity within an organisation over who is accountable for cyber risk.

Read the full Strategic Risk article here

Here what our CEO Dave Brosnan and CUO Patrick Gage had to say about the Roundtable:

Click here to watch Dave Brosnan

Click here to watch Patrick Gage