The fourth annual Towers Watson Risk and Finance Manager Survey examined how North American companies use outside resources, tools and frameworks to address risk.
Key findings in this year's survey include:
- Risk appetite and risk assessment metrics and strategies are largely corporate-level decisions that are often not well communicated at the operational level.
- Only 10% of survey respondents that have a captive use it to fund any employee benefit coverage.
Participant responses suggest a certain confidence that they are increasingly prepared for a variety of eventualities ranging from a hardening market, to natural catastrophes and the threat of terrorism. But their responses also reflect a need to build on risk management steps already implemented, as well as the need to regularly review programs to see whether there are additional actions that can be initiated. There is also a need to better communicate risk management strategies so that all stakeholders within the organization are engaged.