Working from input and data provided by assorted respondents, FM Global has assembled a summary of the types of risk that companies have experienced, as well as their perceived impacts and level of readiness. Breaking down respondents by role and company size, the resulting survey offers some findings worth considering:
- Level of preparedness varied strongly depending on type of risk, with preparedness for equipment failure (34 per cent) and natural disaster (33 per cent) coming in as the top risks for which companies deemed themselves to be most prepared. Respondents were least prepared to deal with geopolitical disruption (20 per cent).
- 68 per cent of those surveyed were concerned that revenues or earnings will be more vulnerable to operational risk, and 58 per cent of respondents noted that the need to manage operational risks will make it more difficult to meet revenue and earnings targets over the next two years.
- Most critically, in demonstrating the gap between words and actions, 86 per cent of respondents agreed that companies will need to be more resilient in the future, but only 46 percent of respondents indicated their companies had developed and tested loss-recovery plans.