Risk management a priority
As a result of the ongoing challenges, business resilience is becoming a higher priority item on the board’s agenda.
Seventy percent of businesses have reinforced their business continuity plans in response to the crisis, according to our Mactavish market research on ‘The risk impact of the Ukraine crisis on UK businesses“.
“The nature and prevalence of major crises have forced organisations to focus more strategically and concentrate resource on issues of crisis management and preparedness,” notes the report.
“In this high-risk operating environment, there’s simply no excuse for any Board to either skimp on risk management or to view insurance as a commodity purchase.”