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This Lloyd’s 360 Risk Insight research report explores corporate risk attitudes around the world. It was produced in collaboration with the Economist Intelligence Unit.
The research is based on a worldwide survey of more than 570 board-level executives, which was conducted in March 2009. Respondents were spread evenly across the major regions of the world, and represented a broad range of sectors and company sizes. To provide further insight and analysis on the findings, a series of in-depth interviews was conducted with corporate leaders and risk experts in the field.
The survey examined attitudes to risk across five key categories:
Economic, regulatory and market risk
Business and strategic risk
Political, crime and security risk
Environmental and health risk
Natural hazard risk
Respondents to the survey were asked to score a series of key risks within these categories in relation to two measures: first, the priority level for the risk in their organisation; and second, the degree of preparedness to manage it. The survey responses were then divided into regions and a single score for priority and preparedness was calculated using a weighted average of the responses. On this scale, a score of zero represents the minimum possible level of priority and preparedness, and a scale of ten represents the maximum possible level.
The report provides analysis of the survey findings, at a global level and within key regions of the world. It also includes a section on changing attitudes to risk and approaches to management at a global level, which was produced on the basis of a series of in-depth interviews with risk experts.
A significant number of people have been involved with the compilation of this report and we are very grateful to our survey respondents and interviewees for their time and insight.