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Our data shows that almost half (42%) of global business leaders believe they will be operating in a high-risk environment in six months’ time, up from 31% earlier this year. Over a third (35%) of global executives now plan to explore insurance options that include risk and crisis management as business challenges mount. 

C-suite executives face challenges from multiple directions as they chart the right path for their business, employees and shareholders while upholding long-earned and hard-won reputations – and continuing to run a profitable company. Views will be challenged and management teams will be called out for any perceived missteps, particularly from stakeholder groups which are growing more sophisticated, informed and vocal as views become increasingly polarised. 

Ultimately, business leaders will need to ensure they have the governance frameworks in place to make the best decision they can with the information they have at the time. The role of the specialty insurance market will be vital to help businesses navigate choppy waters and to share liabilities that may not manifest for months or years to come, but, when they do, often rear their head as costly D&O liability risks. 

Safe harbour policy language exists to cushion executives from unknown scenarios, and those which are impossible to plan for. Meanwhile, the latest learnings and risk mitigation tools from a specialist and highly experienced insurance provider, like Beazley, can be called upon to evaluate a business’ position and provide the reassurance they need to continue with business as usual.