Magazine article Risk Management

Hindsight

Magazine article Risk Management

Hindsight

Article excerpt

EMPLOYEE LAWSUIT HOTSPOTS

U.S. companies had at least an 11.7% chance of having an employment charge filed against them in 2014. However, some states had far higher instances of charge activity than the national average. The average cost to small- and medium-sized business to defend these lawsuits was $125,000.

Climate Change Uncertainty

77% of small to medium-sized enterprises (SMEs) believe climate change poses a long-term risk to their business

57% ofSMEs have already been impacted by climate change

27% arc focusingon adapting their business to be more resilient

26% currently have a resilience plan in place. More than 40% of U.S. and U. K. SMEs have no plans to develop one in the future.

79% believe insurance companies should be doing more to help business adapt to the consequences ol climate change

Source: AXA. Business UnusueL Why the Chmote Is Chenging the Rules for Our Cities end SMEs

As the company risk * * manager, I believe cyberliability is an insurance need, just like auto, general liability and property."

- a respondent to Zurich's annual Information Security and Cyber Liability Risk Management Survey. …

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