Mission Critical

Geopolitical instability, economic uncertainty, and technological disruption are raising boardroom concerns when it comes to risk and insurance.

That’s according to Worldwide Broker Network’s (WBN) “New Risk Reality Report,” which said that “resilience” has become a competitive advantage.

“As organizations navigate uncertainty, risk management has never been more mission critical, yet it remains one of the most misunderstood and undervalued levers of corporate resilience,” said Olga Collins, CEO of the independent insurance broking and employee benefits network, in the report. “Having the right risk strategy can make the difference between reacting to disruption and confidently shaping the future.”

Some 45% of the 1,750 C-suite leaders surveyed listed risk management as the second most critical driver of corporate resilience. And it’s more than just managing exposures. The leaders said they look at insurance as an integral part of resilience rather than just an “unavoidable expense” for some protection. Nearly 9 in 10 said they expected insurance to become increasingly strategic over the next three years.

As risks grow in scale and complexity, traditional insurance models have become strained, and the expectations of brokers are evolving as businesses need deeper insight, clearer value and a more proactive role from their broker partners, the WBN report said.

The survey also asked for more detail related to evolving risks and insurance challenges and found:

• Cybersecurity ranks as the top business risk (48%), followed by AI disruption (40%) and talent shortages (20%).
• 47% said rising premiums are their biggest insurance concern.
• 43% reported cyber coverage gaps amid escalating digital threats.
• 40% highlighted capacity constraints in natural catastrophe markets.

These pressures are accelerating demand for more flexible, data-driven, and globally coordinated risk solutions, the report said. Despite current challenges, the survey found a positive picture of risk management within organizations, with 93% of business leaders describing it as having a good reputation.

“The top factor that would most improve this further is stronger, more trusted and consultative relationships,” the report noted.

The study, which surveyed more than 1,700 senior business executives across the U.S., United Kingdom, Canada, France, Germany, and Spain, was independently commissioned by Worldwide Broker Network, in partnership with MarshBerry.

“The findings point to a clear conclusion: as global uncertainty deepens, organizations are entering a new era where resilience is a competitive advantage and where risk and insurance strategy play a defining role in long-term performance,” added John Wepler, CEO of MarshBerry, who contributed to the report.