The risk landscape for Canadian businesses continues to evolve rapidly, but that doesn’t mean companies have to be caught unprepared.
These evolving risks include everything from technology and cybersecurity to shifting regulatory considerations, reputational risk, employee liability, data and privacy protection and environmental considerations, Phil Baker, head of specialist insurer Beazley Canada, told Canadian Underwriter Thursday.
“Understanding the risks your business faces is the first step,” Baker said. “It’s then critical to evaluate how best to mitigate and monitor risks, while ensuring you have contingency plans in place, and this includes having the right insurance coverage. This will allow businesses to react more quickly in the event of a crisis. As a global insurer, Beazley has the experience and local expertise to help Canadian businesses of all sizes mitigate the risks 2020 and beyond brings.”
Here are the six risks in more detail:
Evolving risks in a data-driven business era
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