Cyber and environmental risks pose the greatest threat to corporate reputation
International insurance and reinsurance broker WTW has released a new report dedicated to the main risks that harm a company’s corporate reputation.
The online resource UkrStrakhavaniya from the WTW report knows that the greatest threat to corporate reputation, according to survey participants, is cyber risks. This opinion was expressed by 65% of respondents.
Approximately the same number (64%) of respondents named environmental risks as the main negative factor for corporate reputation. In 2023, cyber and environmental risks were named as the main reputational threats by 52% of respondents.
In third and fourth place are management and social impact risks with 56% and 47%, respectively.
Despite the existing reputational risks, most survey participants are willing to trade their reputation for business benefits. “According to the survey, 57% of executives would accept some degree of reputational risk if the activity met business goals, and 69% assessed such situations individually,” the WTW report says.
500 top managers from different countries took part in the WTW survey.