Cyber attacks and volatile weather are top risks for Indian corporates

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Large scale cyber attacks, massive incidents of data theft, and extreme weather events are the top three risks for India Inc., says a joint study by Marsh, a global leader in insurance broking, and RIMS, the risk management society.

Titled ‘Marsh RIMS – State of Risk Management in India’, the report sheds light on the maturity of risk management functions in corporate India. It addresses areas such as the top risks Indian corporates face, the maturity level of risk management in organisations, the key areas of risk management that require improvement, the risks of adopting emerging technologies, and key recommendations for risk executives.

‘Excellence in Risk Management’ series is published by Marsh annually in several geographies. This report on Indian scenario was launched at the recent RIMS’ first risk management forum in India.

Some 88% of the survey respondents – representatives of C-suites, executives, and risk professionals across 19 industries – identified cyber-attacks as the top-most risk. This was followed by data fraud or data theft (85%), volatile weather (84%), severe energy price shock (81%) and major financial failure (81%) among…

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