QBE’s Mid-Sized Company Risk Report, now in its second year, discusses the macro and micro risks that most concern mid-sized company executives, whether companies have risk management plans in place to address each of these risks, and their top needs for reducing their risk exposure.
Key Findings in 2021
Financial, digital, business interruption and pandemic concerns top the list of macro risks for mid-sized company leaders. Compared to 2020, concern about risks related to climate change increased significantly, but it still ranks as the least concerning risk.
When analyzing the specific risks, or micro risks, within the macro concerns, employee-related issues emerge as a common theme. Six of the top 10 micro risks identified by business leaders involve employees: Fraud/theft, cybersecurity concerns related to working from home, attracting and retaining talent, accidents and health issues, organization performance, and internal bias/lack of a diversity framework.
Customized advice and insurance products top the list of risk management needs.