Risk Managers Lack International Focus

Jan. 13, 2005
By Deborah Austin Risk managers in the U.S. and Canada should expand their horizons, says the Chubb Group of Insurance Cos. regarding results of its "International Risk Survey: Thinking Beyond Borders." Most risk managers surveyed buy insurance ...
ByDeborah Austin Risk managers in the U.S. and Canada should expand their horizons, says the Chubb Group of Insurance Cos. regarding results of its "International Risk Survey: Thinking Beyond Borders." Most risk managers surveyed buy insurance through the "home office" for international operations -- but fewer than 30% report a high communication level with people in their foreign locations when designing and managing such insurance. While 43% of respondents say at least one-quarter of their firms' revenue comes from international operations, only 16% consider international risks a greater threat than domestic risks. And the risk managers focus more on traditional risk exposures than on kidnapping/extortion, economic/political instability, and currency risk. Furthermore, while respondents expect "cyber asset" risks to grow most significantly over the next few years, 48% say they have little contact with their information technology departments. The Chubb Group of Insurance Cos., Warren, N.J., is offering a free CyberRisk Handbook. For information visit: www.chubb.com/businesses/dfi/cyber/handbook.html.

Popular Sponsored Recommendations

The Benefits of Continuous Thermal Monitoring

Oct. 17, 2023
Read this eBook to learn more about collecting and using data intelligently to improve performance.

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

7 Crucial Steps to Improve Your OT Security

Oct. 23, 2023
Enhance OT security in manufacturing and production. Uncover the crucial steps to safeguard your operational technology. Protect against evolving threats and bridge the IT-OT ...

Guide to Turning Product Data into Profitable Content and Experiences

Sept. 11, 2023
Businesses can lose up to 9.5% of their annual revenue due to bad digital experiences. This guide highlights the need for enriched product content to deliver profitable content...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!