Protecting the organization against the financial risks caused by cyber attacks, climate change, or shareholder disputes are just some of the reasons why a company would take out directors and officers (D&O) liability insurance. This type of insurance reimburses the directors and officers of a company for losses incurred due to legal action brought against them in their role at the company. In 2022,
of cyber attack and data loss to their organization. Most companies store their data digitally and the
The risk of climate change to business
A growing risk for businesses is climate change. It featured for the first time in 2022 among the
most significant business risks according to directors and risk managers worldwide. However, there were regional differences when it came to the level of concern and the type of risk. For instance,
directors and risk managers in Asia were most concerned about the transition risk, or the financial costs of moving from carbon-based energy to carbon-free energy sources. Meanwhile, the physical risk was the biggest concern of Latin American respondents. This includes extreme weather and climate events, such as heat waves, tornadoes, and floods.
COVID-related lawsuits against employers
Another emerging risk for companies is the return to the office, COVID-safety, and vaccination status of employees. The
rate of COVID-19 vaccine doses administered globally varies between countries and regions. Even within some countries there are disparities: The
share of people who are fully vaccinated varies between 50 and 80 percent between U.S. states. As of August 2022, there had been almost 6,000 lawsuits filed by employees in the U.S. alone related to the COVID-19 pandemic. The issues ranged from workplace safety concerns to reimbursement of expenses for working from home.
This text provides general information. Statista assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.
