News: Terrorism and environment the biggest risks – ACE survey

Terrorism and violence represent the biggest corporate risk, identified as important by 32% in a survey of 606 European executives carried out by ACE. Those taking part comprised risk managers, chief risk officers, chief financial officers and chief operating officers from six different countries, including the UK.

The research showed Italy is the country where businesses are most concerned about terrorism and political violence, with 55% of firms believing their company is at risk. Concern is also high in the UK (53%), while companies in Germany feel least exposed (36%).

Environment risks came a close second, cited by 30% of the sample followed by multinational/export risk (27%). Despite identifying these risks, many of those questioned admitted having done little about them. 52% said they are unprepared for directors’ and officers’ liability risk, 52% for IT and cyber risk, 51% for business travel risk, 50% for multinational/export risk and 49% said they are unprepared for environmental risk.